Watchman  I'resx,  Salisbury,  AT.  <■'. 


Library  of  the 
University  of  North  Carolina 

Endowed  by  the  Dialectic  and  Philan- 
thropic Societies 

Cf  38  5.1  -  H81-*o£ 


EH  PORT 


OF 


THE    PKESIDENT 


OF  THE 


NORTH  CAROLINA  RAIL  ROAD, 


TO   THE 


GOVERNOR  OF  THE  STATE, 


JANUARY  20,  1859. 


SALISBURY,  K  C. 
1859. 


8.  W.  James,  Printer. 


Ermta .—On page  7,  ninth  line  from  the  top,  $4,912,652  93 
should  be  14,907,989  44.      And  in  the  temh'line $559, 
575  31,  should  be  $554,914  82.  "v1 


_ - 


Presidents  Office. 


[North  Carolina  Rail  Eoad, 

Salisbury,  January  20,  1859. 


To  His  Excellency 

John  W._  Ellis  : — • 

Sir — By  leave  of  the  Board  of  Di- 
rectors I  present  to  your  Excellency,  for  the  use  of  the  Gener- 
al Assembly,  the  following  Exhibit  of  the  history,  condition 
and  affairs  of  this  Corporation  and  Road.  The  Statements 
and  Tables  contain,  it  is  believed,  all  desirable  information,  in 
detail : — and,  it  gives  me  much  satisfaction  to  have  this  oppor- 
tunity afforded  of  making  such  a  Report. 

The  27th  of  January,  1849,  was  the  date  of  the  ratification 
of  "An  Act  to  incorporate  the  Worth  Carolina  Hail  Road 
Company" 

The  first  General  Meeting  of  the  Stockholders,  under  the 
Charter,  was  held  in  Salisbury — July  11th,  1850 — when  the 
regular  organization  of  the  Company  was  effected.  Hon. 
John  M.  Morehead  was  elected  President,  and  Col.  Walter 
Gwynn,  was  appointed  Chief  Engineer  of  the  Company. 

Immediately  thereafter,  the  surveys  were  commenced,  the 
location  adopted,  and  by  the  summer  of  1851,  the  lettings 
were  largely  made,  and  the  work  began  actively  along  the 
whole  line  of  223  miles.     In  the  spring  of  1854,  the  track- 


laying  was  started  at  Goldsboro',  the  Eastern  Terminus: — and 
at  Charlotte,  the  Western  Terminus.  In  September  follow- 
ing, a  daily  Train  commenced  running  to  Concord  Station,  21 
miles — on  the  Western  Division; — and  in  October,  a  daily 
Train  commenced  running  to  Stallings  Station,  34  miles — on 
the  Eastern  Division. 

In  July,  1853,  the  State  having  made  her  subscription  of 
two  millions  to  the  Capital  Stock,  her  Directors,  eight  in  num- 
ber, two  thirds  of  the  whole,  came  into  the  Board,  which  had, 
up  to  this  time,  consisted  of  twelve  Directors,  elected  by  the 
Stockholders  themselves. 

At  the  General  (annual)  Meeting  of  Stockholders  in  July, 
1851,  the  President  reported  the  want  of  One  Million  addi- 
tional means  to  complete  the  Road.  It  will  be  remembered 
the  Act  of  Incorporation  provided  a  capital  stock  of  Three 
Millions;  two-thirds  by  the  State,  one-third  by  individual 
subscription.  Upon  this,  the  Stockholders  passed  a  resolution 
empowering  the  President  and  Directors  "to  take  such  steps 
as  they  may  deem  necessary  and  proper  for  the  purpose  of 
raising  the  sum  of  one  million  dollars  for  the  prosecution  and 
completion  of  the  Road,"  &c,  either  by  opening  new  books, 
by  loan,  by  mortgage,  or  by  application  to  the  next  Legisla- 
ture. 

Acting  upon  this  authorization,  the  President,  on  behalf  of 
the  Board,  did  apply  to  the  Legislature  the  winter  following, 
for  an  additional  subscription  on  the  part  of  the  State  for 
completion  of  the  Road.  Upon  this  application,  the  Legisla- 
ture passed  an  Act,  entitled  "  An  Act  for  the  completion  of 
the  North  Carolina  Rail  JRoad" — (which  Act  is  hereunto  an- 
nexed) subscribing  on  the  part  of  the  State  the  additional 
million  required.  This  subscription  increased  the  capital 
stock  of  the  Company  to  Four  Millions — its  present  amount, 
and  secured  by  its  generous  aid  the  immediate  energetic  pros- 
ecution of  the  work  to  completion. 

At  the  General  Meeting  of  the  Stockholders  in  July,  1855, 
Gov.  Morehead  declined  a  re-election  to  the  Board,  and  retir- 
ed from  the  Administration  of  the  Road.  My  term  of  service 
then  commenced,  and  has  continued  to  this  date. 


The  following  extract  from  my  second  annual  Report,  July 
7th,  1857,  will  fully  explain  where  I  found  the  work  of  con- 
struction— what  was  completed  then  (at  July,  1855,)  and  what 
was  done  since.     The  Report  says — 

"  The  work  of  the  two  last  years,  (since  my  Administration 
commenced)  may  be  stated  as  follows: — 

On  the  first  of  July,  1855,  a  gap  of  59  miles,  between  Lex- 
ington and  Haw  River,  remained  to  be  completed. 

In  this  incomplete  section  were 

Seven  grading  contracts  unfinished. 

The  Masonry  of  Haw  River  Bridge. 

The  Masonry  of  South  Buffalo. 

Eight  Bridges  to  be  built. 

The  whole  superstructure  of  the  Road  to  be  laid  down. 
Besides  this,  the  following  work  has  been  completed  in  the 
last  year  (to  July,  1857)  : 

The  Joint  Passenger  shed  at  Charlotte. 

Section  Houses  on  fourteen  sections — for  Repair  force  of 
Section  Masters  and  Hands. 

Fourteen  Houses  at  Stations  for  Hands. 

Eighteen  Bridges  covered  and  finished. 

One  burnt  Bridge  (near  Hillsboro')  rebuilt. 

Haw  River  abutment  filled — (this  wTas  a  trestle  frame,  re- 
quiring a  very  heav}^  fill  to  make  a  solid  embankment). 

Ten  culverts  on  Eastern  Division  re-constructed. 

Add  to  this  the  whole  work  of  building  at  the  Shops — Ma- 
chine— Car — Smith  Shop — Foundry — Engine  and  Car  Sheds 
— Master  Machinist  house — Ware-house  with  store  Rooms — 
eight  dwellings  for  Mechanics — eight  wooden  houses  for  men 
— and  wood  shed." 

This  statement  shows  what  work  of  actual  Construction  was 
done  during  my  term  up  to  July,  1857 — since  then  we  have 
added  to  the  above  list  by  further  completion. 

The  Water  Stations  at  Raleigh — at  Asbury — at  section  7 
Eastern  Division — at  Holtsburg — at  Harrisburg — and  at  Char- 
lotte ; — besides  Joint  Passenger  and  Freight  Houses  at  Salis- 
bury to  complete  our  connection  with  the  Western  North 
Carolina  Rail  Road — and  wdiat  remained  to  be  built  at  the 
Shops : — that  is,  Houses  for  the  Master  of  the  Road  and  for 
Superintendent — with  a  Hotel  building  and  Passenger  Ex- 
change Shed. 


This  embraces  all  the  work  of  Construction  to  the  present 
date.  I  shall  hereafter  refer  briefly  in  explanation  of  the  work 
at  various  points — particularly  at  the  Company  Shops. 

The  various  Abstracts,  Tables  and  Statements,  hereto  an- 
nexed, will  be  noted  as  of  much  interest  in  showing  information 
valuable  in  many  respects.  It  is  scarcely  necessary  to  say,  that 
their  accuracy  is  easily  and  perfectly  ascertainable  by  the 
data  in  Office.  The  financial  Statements  are  open  on  the 
Books,  (which  are  kept  with  plain  accuracy)  and  are  filed  in 
the  vouchers.  All  vouchers  are  twice  audited — -first — by  a 
Committee  of  the  Board,  who  at  every  meeting  examine  the 
payments  made,  as  well  as  the  accounts  of  Road  Receipts : — 
next — at  the  end  of  the  year,  by  the  Auditing  Committee,  who 
not  only  examine  each  seperate  voucher,  but  are  accustomed 
to  go  over  every  account  to  ascertain  the  accuracy  of  enumer- 
ation. There  is  also  another  very  brief  mode  of  ascertaining 
with  certainty  the  nature  of  every  transaction  in  the  Office — 
that  is,  by  the  President's  Warrant  Book : — The  Treasurer 
must  have  a  Warrant  for  eveiy  payment,  and  each  Warrant 
carefully  describes  the  nature  of  the  same,  to  whom  made,  on 
what  account,  and  in  what  sum.  By  means  of  the  Warrant 
Book  for  reference  to  the  vouchers,  the  nature  of  any  account, 
from  the  beginning,  may  be  instantly  determined. 

It  is  easy  to  see  how,  in  this  way,  the  cost  of  any  Depart- 
ment on  the  Road — or  the  whole  Operating  Cost,  may  be 
clearly  ascertained.  This  cost  is  shown  on  all  Roads  in  a  very 
simple  manner — by  the  Pay  Rolls  of  the  Departments — and 
by  the  Accounts  for  the  }rear  duly  apportioned.  On  this  Road 
the  Pay  Rolls  are  kept  seperately  for  every  service,  as  well  as 
for  each  class  of  service — for  the  Road — the  Shops — and  Trans- 
portation.    The  first  Table  annexed  is  that  showing  : 

The  Cost  of  the  Road. 

The  excess  of  this  whole  cost  above  the  capital  provided 
will  show  (what  has  been  often  asked)  whether  the  Road  has 
had  any  nett  earnings  or  not. 

The  capital  amount  provided  being — 


$4,000,000,  less  unpaid  stock,  27,665  25  $3,972,334  75 

The  loan  account  being,  350,000  00 

Interest  on  same  and  premium,  2,537  50 

Other  items  shown,  28,205  37 


Total,  equal  to  $4,353,067  62 


which  is  the  whole  amount  furnished  to  us.  But  the  accounts 
show  the  Road  to  have  cost  $4,912,652  93.  Here  is  a  surplus  of 
$559,575  31  over  and  above  what  was  provided  : — This  has  "been 
paid,  as  is  shown,  and  paid — out  of  the  Road  earnings. 

In  respect  to  this  cost,  but  two  questions  need  be  asked : — 
1.  Was  it  for  necessary  work? — 2.  Was  it  an  equitable  cost  ? 
As  to  1.  The  work  was,  (all  except  the  Water  Station  at  As- 
bury,  at  Section  7,  and  two  buildings  at  Shops, — that  for  Mas- 
ter of  the  Road  and  the  Hotel)  a  part  of  the  Road  construc- 
tion always  designed,  estimated  for,  and  found  indispensable. 
No  one  has  yet  pointed  out  an  unnecessary  structure  on  the 
Road.  As  to  2.  The  work  clone  has  been  by  contract,  at  the 
same  rate  paid  throughout  construction,  and  by  the  same  men 
employed  from  the  beginning,  in  contracts  according  to  the 
estimates  of  the  Chief  Engineer — who  was,  it  is  not  needful 
for  me  to  say  but  as  a  repetition — experienced,  able,  and  vigi- 
lant of  the  Company  interest. 

The  detail  statement  on  page  5  (extract  from  a  former 
Report)  will  show  you  what  has  been  done  of  this  work  du- 
ring my  term  of  office.  All  this  (except  as  aboved  noted)  I 
might  say  was  done  according  to  plans  and  estimates  deliv- 
ered to  me,  but  I  desire  no  shelter  from  just  responsibility, 
and  no  excuse  for  what  was  deemed  right,  whether  it  be  ap- 
proved or  censured — therefore,  I  have  to  say — that  being  in 
the  Board  of  Directory  for  several  years  before  my  term,  as 
one  of  the  Board,  I  approved  the  general  plans  submitted,  and 
see  little  or  nothing  in  them,  under  their  practical  working, 
which  could  be  advantageously  changed.  It  is  possible,  in 
any  work  of  this  magnitude,  to  find  some  apparent  errors  of 
judgment  in  the  progress  of  construction — it  is  not  possible, 
in  looking  back,  to  see  or  to  understand  the  causes  and  the 


circumstances  which  then  existed  to  account  for  such.  Time 
and  event  work,  in  their  inevitable  course,  changes  which  no 
foresight  can  anticipate,  and  very  harsh  is  that  judgment  which 
pronounces  to-day  a  condemnation  of  what  is  past,  without 
reference  to  the  circumstances  surrounding  that  past. 

It  concerns  me  personally,  who  had  nothing  to  do  with  this 
work  in  its  construction,  very  little  to  have  a  vindication  of  its 
history — but  common  justice  requires  that  the  truth  shall  be 
known. 

At  the  time  when  the  original  Estimates  of  the  Chief  Engi- 
neer were  made,  the  wages  of  labor  and  the  value  of  all  ma- 
terial to  be  used,  was  very  nearly  one  hundred  per  cent,  less 
than  it  came  to  be  within  twelve  months  thereafter.  Need  I 
ask  what  would  be  the  effect  of  this  extraoridary  change  in 
the  value  of  things  ?    The  answer  is  clear. 

It  is  an  opinion  existing  generally,  that  the  contract- 
ors on  this  work  made  their  stock  clear.  This  is  founded 
in  error — is  an  injurious  impression,  prejudicial  to  the  men 
who  did  the  work,  and  has  led  to  a  conclusion  not  warranted 
by  any  facts : — the  belief  that  the  State,  in  any  works  where 
she  is  a  party,  furnishes  all  the  capital  of  construction.  I  un- 
dertake to  say — from  a  knowledge  of  individual  contractors — 
that  there  are  a  larger  number  whose  stock  cost  them,  in  the 
working  out,  above  par — than  of  those  who  made  fifty  per 
cent,  of  that  stock  clear,  and  if  it  was  a  fact  that  any  have 
made  their  stock,  or  a  part  of  it,  as  profit,  on  work  clone,  this 
profit  so  far,  has  not  been  of  available  value,  but  stands  as  an 
investment.  The  building  of  Eail  Roads  is  attended  with  ex- 
traordinary hardship,  risk  and  cost,  and  it  is  true,  that  not  one 
man  in  four  manages  such  work  well. 

The  only  cause  which  has  saved  many  contractors  from 
losses  on  this  Iioad,  is  to  be  found  in  the  appreciated  value  of 
real  estate,  in  consequence  of  its  construction.  There  is  in 
this  some  reason  why  Stockholders,  as  well  as  the  State,  should 
not  be  unreasonably  clamorous  for  dividends  of  profit — be- 
cause, the  general  influence  of  the  work  has  made  a  sound 
prosperity  to  compensate  for  the  interest  on  stock  held.     To 


9 

landholders  the  appreciation  of  value  has  made  a  direct  return. 
The  State  thus  stands  as  the  individual.  Her  prosperity  is  in- 
creased— her  revenue  is  increased — and  her  character  rises 
with  both — -pampassu.  Upon  the  line  of  this  Road,  and  with- 
in its  influence,  adjacent,  the  appreciation  in  real  estate,  since 
1849,  has  been  not  less  than  Ten  Millions.  Strike  the  Road 
from  existence  and  before  twelve  months  its  value  would  fall 
more  than  Ten  Millions. 

Such,  and  so  great  has  been  the  effect  of  a  Work  habitually 
referred  to  by  many  persons  as  wholly  unprofitable  to  the  State. 
This  is  not  very  strange  while  coming  from  those  so  remote 
from  it  as  to  feel  no  direct  benefit,  and  who  enquire  no  farther 
than  to  ascertain  that  it  has  not  paid  dividends  to  the  Treasu- 
ry, and  has  cost  more  than  its  Capital  provided.  Butj 
is  it  not  more  strange,  that  people,  who  a  few  years  ago,  were 
almost  without  hope  in  trying  to  devise  some  scheme,  to  give 
them  access  to  the  markets  of  the  world,  and  a  means  of  pas- 
sage abroad  better  than  impassable  roads — who  would  wil- 
lingly have  given  a  tithe  of  their  revenue,  if  so  only  to  be  ob- 
tained, for  securing  this,  now  that  they  have  it,  are  full  of  com- 
plaints at  the  lack  of  dividends,  as  if  they  had  invested  as 
capitalists — and  are  free  in  censure  and  condemnation  of  what- 
ever, in  their  wisdom  and  large  experience  of  Rail  Road  man- 
agement, is  discovered  to  be  not  judicious.  The  cost  of  this 
Road  is  a  less  cost,  than  that  of  any  other  Road  elsewhere  has 
been,  for  its  Line.  The  whole  Road,  with  all  its  appurtenances 
is  good,  as  it  is  substantially  and  well  finished,  for  permanency, 
for  safety  and  for  economy  in  operating. 

The  cost  has  been  a  necessity,  and  is  paid.  Upon  this,  above 
the  capital  of  $4,000,000,  no  dividends  are  clue.  The  State 
and  the  Stockholders  will  receive  their  per  cent,  on  the  capi- 
tal;— the  balance,  except  the  $350,000  loan,  the  Road  has 
earned.  It  has  no  incubus  of  a  mortgage,  and  to  pay  off  its 
single  little  loan,  has  a  sinking  fund  already  accumulating  to 
fully  meet  it  at  maturity. 

We  may  safely  challenge  the  production  of  a  parallel  enter- 
prise, which  in  four  years  after  completion,  so  far  as  to  be 


10 

used  for  transportation,  is  able  to  make  such  an  Exhibit  of 
Cost  and  Condition. 

In  the  whole  aggregate  of  cost,  no  part  has  been  so  misap- 
prehended and  so  misrepresented  as  that  for 

The  Company  Shops. 

Against  this  most  essential  and  wholly  indispensable  part 
of  the  Road  property,  a  mischievous  spirit  of  jealousy  has 
sought  to  work  serious  prejudice,  not  without  some  success. — 
As  this  Report  is  intended  for  a  brief  summary  of  the  Road's 
history,  it  is  proper  to  state  how  the  Shops  were  located  where 
they  stand. 

In  August  1858,  a  meeting  of  the  Board  of  Directors  was  held. 
at  Raleigh,  and  its  chief  business  was  to  settle  this  question 
of  the  Shop  location.  The  Journal  of  the  Board  has  this  re- 
cord : 

Ealeigh,  August  3rd,  ]853. 

The  Board  of  Directors  of  the  North  Carolina  Eail  Eoad  Company,  met 
pursuant  to  adjournment. 

Present,  John  M.  Morehead,  President,  Dr.  F.  J.  Hill,  W.  T.  Dortch,  F. 
Fries,  D.  A.  Davis,  E.  P.  -Dick.  N  G.  Eand,  W.  H.  Washington,  Eo'oert 
Strange,  Jr.  Samuel  F.  Phillips,  Samuel  Hargrave,  and  Chas.  F.  Fisher. 

Col.  Gwynn  submitted  his  report  on  the  subject  of  Locating  the  Shops  of 
the  Company. 

After  much  discussion  on  the  matter,  Mr.  S.  F.  Phillips  presented  a  propo- 
sition from  the  citizens  of  Hillsboro',  offering  the  quantity  of  land  necessary 
for  the  Shops ;  and  asking  the  location  of  the  main  Shops  at  that  place. 

Mr.  Dortch,  on  behalf  of  Goldsboro',  offered  a  similar  inducement  for  the 
location  at  that  place.  Mr.  E.  P.  Dick  presented  a  similer  proposition  on  be- 
half of  Greensboro'. 

On  motion  of  Dr.  Hill — 

Resolved,  That  the  principal  Shops  be  located  at  Goldsboro',  which  motion 
was  lost. 

On  motion  of  Dr.  Hill — ■ 

Resolved,  That  the  Principal  Shops  be  located  at,  or  near  the  centre  of  the 
Eoad. 

Mr.  Dortch  moved,  that  the  Principal  Shops  be  located  at  Hillsboro' — de- 
cided in  the  negative. 

Dr.  Hill  offered  the  following  : 

Resolved,  That  the  President  and  Chief  Engineer,  be  requested  to  ascertain 
the  nearest  practicable  point  to  the  centre  of  the  North  Carolina  Eail  Eoad 
for  the  location  of  main  Shops — to  ascertain  the  best  terms  upon  which  the 
land,  required  for  the  construction  of  the  same,  can  be  purchased,  and  report 
to  the  next  meeting  of  this  Board, — which  was  rejected. 

Offered  by  Mr.  Washington — 


11 

Resolved,  That  the  President  and  Chief  Engineer,  be  authorized  and  re- 
quested to  purchase  on  behalf  of  the  North  Carolina  Rail  Road  Company,  a 
suitable  site  for  the  Principal  Shops  of  said  Company,  at  some  point  within 
five  miles  of  the  centre  of  said  Road,  which  was  carried. 

Resolved,  That  the  Chief  Engineer  of  the  North  Carolina  Rail  Road,  be 
authorized  and  directed  to  procure  suitable  sites,  and  cause  to  be  erected 
thereon  at  Charlotte  and  Goldsboro'  respectively,  such  Shops  as  may  be  ne- 
cessary and  proper  for  said  Rail  Road  Company." 

.  So  much  for  that.  Next  referring  to  this  matter  is  the  fol- 
lowing extract  from  the  Fourth  Annual  Report  of  President 
Moreheacl  to  the  General  Meeting  at  Hillsboro',  July  13th? 
1854. 

"  The  Board  having  determined  to  locate  the  Principal 
Shops  as  near  the  centre  of  the  Line  as  convenient,  after  en- 
countering some  difficulty,  finally  succeeded  in  securing  some 
632J  acres  of  land,  at  a  cost  of  $6,748  37^-,  which  is  compos- 
ed of  several  tracts,  and  is  deemed  a  suitable  location,  lying 
in  the  county  of  Alamance,  some  three  or  four  miles  East  from 
the  centre  of  the  Line." 

This  brings  us  to  the  location'actually  fixed  upon  and  pur- 
chased. The  journal,  as  above,  showing — who  determined 
the  general  location  : — the  extract  of  Report  showing — who 
fixed  upon  and  purchased  the  exact  location. 

President  Morehead*  adds  to  the  above — 

"  At  this  point,  it  is  proposed  to  lay  out  a  plan  for  the  Prin- 
cipal Shops  on  a  scale  commensurate  with  the  importance  of 
the  Road  :  but  the  different  parts  of  the  whole  will  go  up  as 
the  means  of  the  Company  may  justify,  and  the  necessities  of 
the  Road  may  require." 

So  it  was  proposed  and  so  done. 

The  plans  are  on  file  to  show  for  themselves.  It  was  made 
a  question  in  the  Board  how  far  the  work  should  go  on.  Some 
of  us  (and  I  was  one  of  that  number)  believed  it  would  be  best 
to  get  along  with  the  least  possible  expenditure  to  make  the 
Shops  available  : — the  Chief  Engineer  thought  it  wisest  and 
the  best  economy  to  build  at  once  what  was  needful  to  make 
the  "whole  thoroughly  available.  Experience  has  shown  he 
was  entirely  right  in  his  view.  A  partial  completion  subse- 
quently proved  wholly  unavailable,  and  the  Board,  on  my  re- 
commendation, concluded  to  finish  at  once,  so  as  to  have  the 


12 

full  benefit  of  the  whole  plan.  It  is  soon  learned  in  all  prac- 
tical Rail  Road  work,  that  construction  which  is  not  necessary 
should  never  be  undertaken  at  all — that  whatever  is  necessa- 
ry, should  be  most  thoroughly  completed  at  the  earliest  time 
practicable.  In  no  work  of  man  is  a  half -finish  more  unwise, 
unprofitable  and  unsafe  than  on  a  Rail  Road. 

I  very  soon  found  the  pressing  need  of  the  Shops.  For  more 
than  two  years  the  Repairs  of  Engines  and  Cars  had  to  be 
dojie  in  small  smith  shops  at  Charlotte  and  Goldsboro'  with- 
out conveniences  or  tools.  The  consequence  was  our  machi- 
nery went  down  rapidly,  our  work  cost  a  great  deal  more  than 
was  necessary,  and  much  was  obliged  to  be  done  abroad  at  a 
heavy  additional  expense.  Being  satisfied  that  the  true  poli- 
cy was  to  finish  and  stock  well  with  tools,  we  proceeded  to  do 
so  as  soon  as  possible. 

These  Shops  are  now  completed.  The  location  is  admira- 
ble for  its  centrality  and  desirableness — both  for  the  advan- 
tage of  the  Road  and  for  its  healthful  character  as  a  residence. 
No  change  could  improve  it,  and  if  there  is  one  element  of 
value  more  than  another  in  the  various  means  of  the  Road  for 
successful  operations  hereafter — it  exists  here,  in  the  Compa- 
ny Shops.  They  should  be  carefully  fostered  as  the  heart  of  the 
Road.  Upon  them  must  depend  its  safe  and  successful  ope- 
ration. Two  influences  may  war  against  them — sectional  jeal- 
ousy and  private  prejudice,  but  it  is  to  be  hoped,  will  not  suc- 
ceed in  doing  any  serious  injury.  These  Shops  furnish  good 
engines  and  cars,  and  good  men — which  together  constitute 
the  chief  reliance  for  profits  in  work,  and  for  what  is  more 
important,  but  sometimes  overlooked — for  safety  to  life. 

It  was  proposed  from  the  first  to  make  this  place  the  resi- 
dence of  the  Officers  (except  the  President)  and  of  all  the  men 
engaged  on  Transportation  duty.  The  principal  Office  of  the 
Company  is  here,  and  nearly  all  the  officers  and  men  have 
here  their  permanent  residence. 

The  number  of  buildings  for  residences  is  not  large  enough, 
but  will  have  to  be  increased  from  year  to  year.  This  can  be 
done  at  a  small  cost.     All  pay  j ust  and  full  rentage.     The  num- 


ber  of  Shop  buildings  proper  is  entirely  complete,  and  are  alrea- 
dy fully  occupied. 

I  beg  to  direct  attention  to  the  amount  of  work  done  at  the 
Shops,  as  shown  in  the  cost  of  Eepairs,  for  labor,  contained  in 
Machinery  Eeport  annexed.  It  must  be  understood  that  on 
this  aggegate  cost  the  Shops  are  entitled  to  a  credit  for  the 
per  cent  of  profit,  at  least  25,  which  would  be  charged  abroad 
— and  for  the  difference  between  having  our  work  done  in  the 
best  manner  at  the  instant  when  wanted,  and  of  having  other- 
wise to  send  it  abroad,  paying  charges  of  transportation,  taking 
the  chances  of  bad  work,  and  of  waiting  till  we  could  get  it, 
with  perhaps  heavy  cost  for  delay. 

It  can  need  no  argument  to  show  that  a  Rail  Road  must 
have  its  efficient  and  complete  Shops  of  Eepairs.  No  Eoacl 
could  exist  long  without  such.  The  only  question  then  would 
be  as  to  their  character  and  location. 

This  is  a  Eoad  of  length  equalled  by  few  in  the  country, 
and  not  easily  worked.  It  will  be  apparent  that  its  length 
would  require  a  large  number  of  Engines  and  Cars  for  even  a 
small  business  of  transportation.  Our  equipment  of  both  is 
not  large,  hence  the  necessity  of  a  most  careful  attention  to 
their  condition  for  service  at  all  times.  The  extraordinary 
mileage  of  our  Engines  will  show  what  they  have  done  of  ser- 
vice. It  may  be  safely  stated  that  no  Eoad,  according  to  the 
Eeports  made,  has  ever  anywhere  exceeded,  few  have  equal- 
led this  mileage.  But  to  enable  them  to  do  this,  good  Shops 
are  required,  large  enough  to  despatch  the  work  promptly 
and  well.  It  will  be  apparent  too,  that  much  must  depend 
on  the  convenient  and  judicious  location  of  these.  Ex- 
perience has  shown  beyond  question  that  an  Engine  cannot 
with  safety  and  economy  exceed  a  run  of  over  about  100  miles 
without  stopping  for  rest  and  examination.  When  the  Board 
had  under  consideration  the  matter  of  location  at  the  meeting 
in  Ealeigh,  a  letter  of  the  President  to  the  Chief  Engineer 
was  read,  at  the  request  of  the  President,  to  show  that  he  had 
expressed  no  opinion  or  wish  to  influence  this  location — and 
the  Chief  Engineer  produced  a  number  of  letters  from  the 


14 

highest  professional  authorities  in  the  country,  in  answer  to 
his  enquiry  for  their  opinions — all  concurring  in  the  view  of 
a  central  location  on  a  Road  like  this.  But  if  223  miles  is  too 
far  to  run  an  Engine,  and  it  was  therefore  a  necessity  to 
change  on  the  Road,  where  would  common  sense  say  this 
change  should  be  made,  if  not  as  near  the  middle  ground  as 
possible.  Suppose,  to  favor  the  locality  of  Hillsboro',  it  had 
been  fixed  there — then  on  the  Eastern  end  engines  would  stop 
at  &8  miles,  while  on  the  Western  end  they  would  have  to 
run  135  miles  : — or  at  Greensboro',  then  on  the  Western  end 
they  would  stop  at  93  miles  with  light  trains,  and  have  to  run 
on  the  Eastern  end  130  miles  with  heavy  trains.  As  the  Road 
was  not  built  for  the  special  benefit  of  either  one  of  these  lo- 
calities, or  of  any  others  on  its  line,  there  would  have  been  a 
most  manifest  impropriety  in  damaging  its  interest  for  the 
benefit  of  any  point,  notwithstanding  the  opinion  of  any,  which 
might  be  conceived  in  selfishness,  that  its  village  importance 
required  such  sacrifice. 

Fortunately,  for  the  success  and  best  interests  of  the  Road, 
no  such  selfish  or  unwise  council  prevailed.  The  Chief  En- 
gineer is  entitled  to  much  honor  for  his  influence  in  fixing  this 
location.  ~No  act  of  his  service  on  the  Road  was  so  impor- 
tant in  determining  its  safe  profitable  policy  of  operation,  and 
its  future  prosperity.  When  the  day  comes  that  local  disap- 
pointment and  jealousy  is  no  longer  galling — and  when  the 
hope  of  partizan  agitation  fails,  then  the  wisdom  of  this  loca- 
tion will  be  admitted. 

For  the  present,  I  rest  content  with  saying,  that  the  Shops 
cost,  as  a  single  item,  is  the  best  investment  belonging  to  the 
Company, — including  the  Hotel,  which  is  already  perceived 
to  be,  not  only  a  convenience,  but  an  absolute  necessity. 
Those  who  condemn  it  know  this  is  so.  It  is  hardly  possible 
to  admit  their  honesty  of  opinion  to  the  contrary,  at  the  ex- 
pense of  their  common  sense. 

If  possible,  with  justice  to  others,  I  would  most  willingly 
take  all  present  blame  for  the  location,  plans  and  construction 
here,  under  the  sure  conviction  of  future  honor.  But  it  is  due 
to  others  to  share  the  credit.     I  cannot  even  claim  to  have 


15 

made  contracts  for  the  principal  work  of  building — it  was 
done  before  my  term.  I  have  only  required  them  to  be  faith- 
fully complied  with. 

The  Receipts  of  the  Treasurer,  and  the  amounts  for  work, 
will  show  that  the  Shops  leave  paid  in  rents,  and  in  work  done 
for  other  Roads,  and  for  individuals,  a  sum  equal  to  no  less 
than  three  per  cent  on  $130,000 — which  is  altogether  outside 
of  any  proper  credit  for  reasonable  profit  on  our  own  work, 
and  for  that  which  is  above  estimate,  in  securing  safety  to 
life  and  property  and  economy  of  operation  : — namely,  the 
means  to  do  this  work  promptly,  cheaply,  and  well  at  all  times. 

The  policv  and  general  management 

only  remains  to  be  referred  to,  and  as  to  this,  every  man  of 
the  stockholders,  has  perhaps  his  own  views,  well  determined. 
Whether  these  views  are  always  in  accordance  with  the  as- 
certained results  of  experience  in  this  difficult  business,  is  an- 
other thing,  but  at  least  they  are  often  confidently  held,  and 
in  some  cases,  are  entitled  to  the  credit  of  being  "  new  under 
the  sun." 

Hail  Road  management  consists  of  two  branches: — 1  The 
general  policy  as  to  freights,  fares,  property  and  mode  of  ad- 
ministration. 2.  The  administrative  supervision,  control  and 
police. 

The  first  belongs  to  the  Board  of  Directors  to  be  determin- 
ed and  regulated.  They  must  do  so  under  the  penalty  of  be- 
ing denounced  either  for  high  rates,  or  for  no  dividends. — 
These  rocks  approach  too  closely  to  sail  between  them — it  is 
impossible.  If  the  rates  are  too  low  to  pay  good  dividends, 
the  Board  must  answer  for  it: — if  dividends  are  paid,  clearly 
the  money  is  taken  from  the  people  (who  ought  to  receive  the 
benefit  of  this  public  work)  to  go  into  the  pockets  of  the  capi- 
talist. Is  this  jest  or  truth  ?  Let  every  man  sa}7.  What  then 
is  the  moral  ?  Why,  that  Boards  of  Directory  must  see  well 
what  is  alike  just  to  the  community  and  to  the  owner  of  shares, 
without  overmuch  care  for  applause  or  blame.  Poor  must  be 
the  fate  of  that  public  enterprise  whose  policy  fluctuates  and 


16 

vacillates  at  the  noise  of  public  clamor,  chiefly  made  by  those 
who  have  the  least  interest  and  the  worst  tempers. 

The  policy  of  this  Road  as  to  transportation  of  persons  and 
freight,  was  adopted  in  the  year  1853,  by  the  Board  of  that 
year,  under  President  Morehead ;  the  first  Tariff  was  prepar- 
ed by  Col.  Gwynn.  Its  features  were  found  generally  good 
on  revisal,  at  the  date  of  our  present  Tariff  in  1S55,  and  were 
generally  preserved.  Many  changes  of  rate  have  been  made 
from  time  to  time,  as  the  Board  deemed  best,  and  I  state  here 
without  any  apprehension  of  its  being  shown  to  the  contrary: 
— that  our  average  rates  of  freight  transportation  are  as  low 
as  those  of  any  Southern  Road,  and  lower  than  many  of  them. 
Our  passenger  fares  are  unquestionably  lower  than  most  of 
them.  It  has  been  allowed  by  the  Board,  to  make  with  any 
persons  having  large  amounts  of  heavy  freights,  and  desiring 
it,  special  contracts,  on  tonnage  rates,  in  and  out,  both  for  this 
Road  and  other  Companies  giving  me  authority  to  do  so. 

In  the  councils  of  the  Board  there  has  occurred  very  little 
difference  of  opinion  on  questions  of  importance.  The  Jour- 
nals will  show  this — and  as  between  the  State  and  stockhold- 
ers interest,  no  conflict  whatever  has  at  any  time  occurred. 
In  fact,  the  action  of  the  Board  has  been  always  harmonious 
in  its  meetings,  whatever  may  have  been  the  outside  repre- 
sentations in  respect  thereto. 

2d.  As  regards  the  administrative  supervision,  control,  and 
police  of  the  Road — I  am  alone  responsible.  To  suppose  that 
the  management  of  a  Rail  Road  can  be  in  the  hands  of  any 
one  but  the  administrative  officer,  is  to  suppose  an  absurdity. 
Such  a  belief  can  exist  only  with  those  who  are  ignorant  not 
only  of  this  work,  but  of  any  important  work.  Rail  Roads 
are  as  dangerous  as  magazines  in  war.  Their  wTeak,  incom- 
petent or  rash  management  may  scatter  death  and  destruction 
along  their  line — witness  the  annals  of  appalling  disasters. 
Yet  men  ignorantly  talk  of  this  management,  as  if  it  were  a 
matter  of  mere  dollars — complain  of  extravagant  expenditure 
to  make  safe  Roads,  as  if  the  question  was  of  a  highway  for 
an  ox  wagon — clamor  for  low  wages,  as  if  good  and  compe- 
tent and  skilful  men  may  be  had  for  this  most  dangerous  and 


17 


-abuse  the  building 


■wearing  life,  at  the  rates  of  common  labor 
and  maintenance  of  shops  for  repairs,  as  if  the  complex  ma- 
chinery of  a  Locomotive  could  be  kept  in  order  with  a  com- 
mon blacksmith  forge  and  fixtures.  Wholly  forgetting,  that 
upon  the  safety  of  the  Road  track  depends  the  safety  of  the 
Train — (a  truth  so  deplorably  neglected  on  our  American 
Roads) — forgetting  that  the  living  freight  of  human  life  fol- 
lowing the  engine  is  in  the  hands  of  the  man  who  guides  and 
controls  this  terrible  power,  and  who  constantly,  in  season  and 
out  of  season,  risks  his  own  life  in  this  perilous  service,  for 
the  wages  grudgingly  allowed  to  him  ;  and  forgetting  that  a 
single  piece  of  bad  or  defective  wTork  about  engine  or  train, 
may  cause  a  sudden  destruction  of  the  wThole. 

This  is  truth  little  comprehended  or  thought  of  by  those 
who  talk  of  Rail  Roacl  management,  as  if  the}7  knew  anything 
about  it,  and  who  consider  but  one  point — the  making  of  div- 
idends. The  penny  wise  advocates  of  cheap  roads,  half  built 
— of  low  wages,  for  incompetent  and  unskilful  men — of  no  ex- 
penditures to  repair  or  shelter  broken  down  engines. 

As  opposed  to  such  notions,  I  have  made  no  concessions  to 
them.  My  police  of  the  Road  has  been  according  to  strict 
discipline,  by  which  alone  can  a  Rail  Road  be  safely  and  pro- 
fitably managed.  It  has  been  my  effort  to  finish  the  Road 
construction,  so  as  to  make  it  safe  and  permanent.  To  com- 
plete the  Shops,  so  that  they  may  be  entirely  available  for  all 
Repairs,  and  for  all  work  of  the  Road.  To  secure  for  the 
Trains  of  all  classes  the  services  of  men  competent,  faithful, 
sober  and  skilful — to  have  any  other  kind  at  no  price — and  to 
j>ay  to  such  just  and  good  wages. 

For  the  question  whether  this  management  has  resulted 
well  or  badly,  there  can  be  stated  as  follows  :  Up  to  the  pre- 
sent date,  no  disaster  has  yet  happened  to  any  passenger  train 
on  the  Road,  during  my  term  of  nearly  four  years  :— and  only 
twice  in  this  time  has  any  engine  of  a  passenger  train  left  the 
track,  once  from  running  over  a  horse  at  night,  and  once  late- 
ly from  some  unknown  cause,  in  neither  case  causing  any  in- 
jury to  persons,  and  but  small  damage. 

The   Express  Train  was  run  at  a  rate  of  26  miles,  from 


18 

April  7th  last  to  January,  -without  once  missing  a  connection 
at  either  terminus. 

The  Freight  service  has  been  conducted  successfully  and 
safely.  ]STo  accident  has  ever  happened  to  any  Train  on  the 
Western  Division,  aud  but  one  involving  any  serious  conse- 
quences on  the  Eastern  Division.  Our  Engines  on  service  are 
in  perfect  order  always,  because  carefully  -watched  and  hav- 
ing a  machinist  on  each  one. 

Our  operating  cost  has  been,  of  the   gross  earnings,  since 
the  Road  was  completed  in  January,  1856. 
For  the  year  1855  and  '56 — 47i  per  cent. 
"      "    "  "     1856  and  '57— 45£    "       " 
"      "       "     1857  and  '58—43       "       " 
To  Jan.  1,  (for  6  months)   '59—44       "       " 

The  larger  per  cent  of  the  two  first  years  was  owing  to  the 
depreciated  condition  of  our  machinery,  for  lack  of  any  shops 
to  repair,  except  common  smith  forges  at  Goldsboro'  and 
Charlotte,  making  this  heavy  additional  operating  expense.  In 
these  two  years  also  was  the  transportation  expense  of  material 
and  construction  Trains,  used  while  finishing  the  Superstruc- 
ture (track  and  bridges)  thrown  into  the  operating  cost. 

The  per  centage  of  cost  for  working  the  Road  here  shown 
is  as  low  as  can  be  set  forth  by  most  Roads — yet  this  account 
is  not  only  a  full  one  for  all  charges,  but  it  contains  the  whole 
shops  pay  rolls  for  whatever  work  was  done  on  new  cars,  and  for 
other  Roads  and  persons  ;  and  also  the  whole  Road  cost  for  ex- 
traordinary, as  well  as  ordinary  Repairs.  Ey  deducting  these 
items  the  rate  would  have  fallen  to  40  per  cent. 

For  information  as  to  the  items  of  operating  cost,  I  have 
given  a  statement  of  the  expense  ac't.  for  six  months  in  de- 
tail. It  will  be  observed  that  a  large  item  in  this  account 
is  for  hand  hire.  The  Annual  Report  of  the  President  and 
Directors  made  by  me,  July  1856,  strongly  recommended  to 
the  stockholders  the  purchase  of  100  hands  for  Road  uses,  as 
a  measure  of  economy  and  good  policy.  These  hands,  if 
owned  by  the  Company,  would  be  valuable  as  Firemen,  Brake- 
men  and  Mechanics.  For  such,  on  account  of  risk  and  skill, 
we  are  forced  to  pay  a  hire  of  not  less  than  an  average  rate 


19 

of  $160  for  firemen  and  train  hands,  and  $200  for  mechanics. 

They  might  have  been  bought  at  a  cost  of  $120,000,  and  this 

price  would  have  secured  the  best  picked  men,  young  and 

intelligent. 

For  such  we  pa}'  hire  annually,  say,  $16,000 

The  interest  at  7  per  cent,  on  $120,000,  would  be     8,400 


Difference  annually,  7,600 

But  this  difference  in  actual  cost  is  far  below  the  difference 
in  actual  value  between  hired  and  owned  hands.  It  is  neces- 
sary to  train  and  instruct  all  new  hands — this  takes  time  and 
trouble  ;  and  when  so  rendered  more  valuable,  their  owners 
always  demand  an  advance  of  pay  for  our  instruction  to  them, 
and  generally  we  are  forced  to  give  it,  rather  than  begin  again 
with  ignorant  and  awkward  ones. 

The  stockholders  committee,  however,  reported — "  that  it 
is  not  considered  expedient  at  this  time  to  make  the  purchase 
of  100  hands." 

I  am  more  convinced  from  the  experience  of  every  year 
that  the  Company  ought  to  buy  a  number  of  good  hands — 
which  perhaps  might  be  best  done  from  year  to  year. 

The  8  jper  cent  Loan. 

The  only  debt  of  the  Company  now  existing  is  that  for 
$350,000,  of  date  March  1st,  1857,  and  due  March  1st,  1867 ; 
for  the  payment  of  which,  a  sinking  fund  is  provided  to  meet 
the  same  at  maturity.  Into  this  fund  was  paid  last  year, 
$25,000,  in  North  Carolina  State  bonds — which  are  registered 
according  to  law,  and  deposited  in  the  Branch  Bank  of  Cape 
Tear  at  Salisbury.  The  next  payment  to  this  fund  is  due  in 
the  last  six  months  of  the  present  year,- 1859. 

In  relation  to  this  matter,  I  desire  to  make  as  briefly  as  pos- 
sible, what  is  known  as  a  "  personal  explanation."  Finding 
soon  after  the  completion  of  the  Road  for  through  use,  more 
debt  than  was  expected,  and  more  capital  required  to  finish 
construction  properly,  the  Board  recommended  to  the  stock- 
holders a  loan  for  $350,000,  (in  1856).  The  recommendation 
was  concurred  in,  and  Company  6  per  cent.  Bonds  were  issued, 


20 

but  found  wholly  unavailable  at  par,  the  only  terms  of  sale 
allowed. 

In  the  winter  following,  the  Legislature  met,  and  the  Board, 
as  a  last  resource  to  raise  money  on  the  Bonds,  made  applica- 
tion to  the  General  Assembly  to  authorize  the  payment  of  an 
increased  rate  of  interest  thereupon.  The  application  was  not, 
as  has  been  erroneously  believed  by  some,  for  authority  to 
make  the  loan,  the  charter  gave  this,  but  it  was  for  authority 
to  raise  the  rate  per  cent,  of  interest  paid  on  the  loan. 

In  making  this  application,  one  of  the  Directors  of  the  Road, 
then  Senator  from  Orange,  and  a  gentleman  in  the  House, 
member  from  Wake,  were  prominent  in  urging  the  measure, 
which  met  some  opposition.  As  a  means  of  satisfying  this 
opposition,  they  stated  their  assurance  and  belief,  that  the 
sum  proposed  by  this  loan,  would  clear  the  Road  from  debt 
and  enable  it  to  pay  into  the  State  Treasury,  the  year  follow- 
ing, the  6  per  cent,  interest  due  to  the  State  on  the  one  mill- 
ion of  preferred  stock,  subscribed  under  the  "  Act  for  the  com- 
pletion of  the  North  Carolina  Rail  Road" 

For  the  purpose  of  fully  exonerating  these  gentlemen  from 
the  responsibility  assumed  by  them  in  making  these  assur- 
ances, I  state  here — that  this  responsibility  properly  rests  up- 
on me  alone.  In  the  full  belief  that  the  fact  was  so,  I  gave 
them  the  assurance.  It  was  my  business  to  know,  and  it  was 
by  them  taken  for  granted  that  I  did  know.  Whatever,  there- 
fore, of  error,  or  of  misapprehension  existed,  was  and  is,  whol- 
ly chargeable  to  me.  The  amount  of  old  debt,  unlisted  and 
not  known  to  exist,  caused  this  error.  The  estimate  for  com- 
pletion, of  course,  fell  short  in  the  amount  of  this  indebted- 
ness. About  this  matter,  there  can  be  no  question  and  no 
misrepresentation.  The  vouchers  of  payment -clearly  show 
the  date  of  every  liability,  and  the  nature  of  the  account. 
In  the  annual  Report  of  July,  1858,  this  statement  was  set 
forth  in  detail  from  an  examination  of  each  warrant,  issued  by 
me  since  July  1st,  1855,  and  would  have  been  published  here- 
with, but  it  was  found,  when  too  late,  so  large  as  to  cause  a 
delay  in  the  issuing  of  this  Report,  which  I  was  unwilling  to 


21 

allow.  It  amounts  to  about  half  a  million,  which  is  near  the 
sum  total  paid  out  of  the  Road  earnings. 

I  have  been  censured  for  two  things — the  payment  of  high 
rates  of  interest  on  current  loans,  and  of  8  percent,  on  the 
Bond  loan.  The  case  stands  thus  : — An  amount  of  indebted- 
ness existed  which  had  to  be  paid  unless  these  persons  who 
complain  would  have  suggested  repudiation.  For  payments 
due,  money  was  raised  upon  current  loans  on  the  best  terms 
possible.  We  thought  ourselves  fortunate  in  raising  it  at  all 
on  credit.  This  was  censured.  As  a  remedy,  a  Company 
Bond  loan  was  attempted  at  6  per  cent.  This  failed.  The 
next  recourse  thought  best  was  to  offer  8  per  cent.,  which  suc- 
ceeded— but  was  as  much  censured  as  the  higher  rate  on  small 
loans,  although  in  asking  for  authority  to  pay  8  per  cent,  on 
the  Bond  loan,  we  expressly  stated  as  a  reason,  the  object  was 
to  avoid  a  higher  rate  on  small  loans — to  consolidate  the  whole 
amount — and  to  extend  its  payment  a  term  of  years. 

All  these  facts  have  been  shown  in  the  Annual  Reports  of 
each  year.  If  any  are  not  informed,  it  is  because  they  have 
neglected  to  read.  We  are  not  chargeable  with  their  ignorance. 
The  whoie  management  of  the  Road  has  been  condemned  by 
these,  and  by  others  having  their  own  objects  of  private  in- 
terest, or  of  personal  or  partisan  schemes  to  subserve.  The 
censure  and  abuse  of  such  is  of  no  consequence,  except  so  far 
as  it  deceives  the  honest. 

The  facts  appear  to  be  : — That  I  have  completed  the  Road 
construction,  as  fully  perhaps  as  Rail  Roads  are  usually  com- 
pleted : — have  paid  its  liabilities  out  of  the  Road  earnings : — 
have  operated  the  Road  at  an  average  cost  of  less  than  45  per 
cent,  of  the  gross  earnings  : — have  been  so  fortunate,  under 
the  merciful  deliverance  from  disaster  of  a  Higher  Power,  as 
to  conduct  its  always  dangerous  transportation  of  life  and  pro- 
pert}'  with  extraordinary  safety  and  security  to  both — and  can 
now  surrender  to  the  State  her  important  work,  (as  I  would 
be  glad  to  do  to-day)  in  good  order  and  condition,  free  of  en- 
cumbrance, ready  to  make  returns  of  profit,  and  wTith  a  clear 
future  of  prosperity. 

This,  sir,  is  all  I  proposed  to  myself,  when  under  cireum- 


22 

stances  of  urgency  I  assumed  the  administration  of  this  work 
— a  charge  not  only  wholly  unsought  by  me,  but  most  unwill- 
ingly undertaken.  Undertaken,  because  believing  the  pro- 
gress of  our  system  in  the  State  would  depend  upon  the  suc- 
cess of  this  work,  I  did  not  feel  authorized  to  refuse  my  ser- 
vices at  the  call  of  the  State  and  the  Stockholders.  I  need 
not  say  to  those  who  know  best,  that  the  charge  has  been  one 
full  of  heavy  responsibility,  as  well  as  of  labor,  and  one  most 
unprofitable  to  me. 

This  communication  has  extended  to  a  length  much  beyond 
what  I  had  proposed.  My  only  apology  is  the  importance  of 
its  subject. 

I  have  the  honor  to  be, 

Your  obedient  servant, 

CHAS.  F.  FISHEB,  PvesH. 


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25 


COMPARAT1VE3STATEW1ENT 

Of  Receipts  of  Passengers,  Freights  and  Mail  for  the  six 
months  of  each  year  fielow,  from  July  1,  to  January  1. 


1856  and  1857. 

Passengers. 

Freights. 

Mails. 

Total. 

July,  -  —  -  - 
August,  -  -  -  - 
September,  -  -  - 
October,  -  -  -  - 
November,  -  -  - 
December,  —  -  - 

11,216  18 
11,112  13 

12,408  28 
11,820  05 
10,940  37 
13,057  97 

70,055  98 

9,279  44 
12,926  32 
16,889  55 
15,703  59! 
10,378  12! 
17,570  18 

1,858  34 
1,858  34 
1,858  34 
1,858  34 
1,858  34 
1,858  34 

22,371  96 
25,896  79 
31,156  17 
28,982  78 
23,076  83 
25,486  49 

75,665  20 

11,150  04 

156,871  02 

Statement — Continued. — 1857  and  1858. 


Passengers. 

Freights. 

Mails. 

Total. 

July,  -  - 

August,- 

September, 

October,    -  -  — 

November, 

December,- 

14,478  22 
14,433  95 
15,750  59 
16,085  15 
10,337  70 
12,716  93 

10,155  24 
19,581  61 
17.675  04 
17,198  07 
11,127  82 
15,127  47 

1,858  34 
1,858  34 
1,858  34 
1,858  34 
1,858  34 
1,858  34 

26,491  80 
34,873  90 
35,293  97 
35,141  56 
23,323  86 
27,076  74 

82,802  54 

90,565  25 

11,150  04 

184,817  83 

Statement — Continued— -1858  and  1859. 


July,  -  -  -  - 
August,-  — 
September,  - 
October,  -  - 
November,  - 
December, — 


Passengers. 


13,807  70 

13,353  48 

14,637  20 

15,710  17 

12,703  73 

15,241  08 


85,454  36 


Freights. 


12,502  01 

19,818  51 

21,558  44 

19,729  91 

16.540  90 

13,769  90 


103,919  67 


Mails, 


1,858  34 

1,858  34 

1,858  34 

1,858  34 

1,858  34 

1,858  34 


11,150  00 


Total. 


28,168  05 

35,030  33 

38,053  97 

37.298  41 

3U03  96 

30,869  31 


200,524  03 


Note.     The  above  Statement  is  made  for  six  months  of  the  last  three  years 
in  order  to  show  a  comparison  with  our  last  six  months  to  this  date. 


26 


OPERATING    COST 


Of  North  Carolina  Rail  Road  for  six  months,  as  shown  by 
Statement  of  Current  Expenses ;  from  July  1,  1858  to  Jan- 
uary 1,  1S59. 


BUKEATJ   DEPARTMENT. 

$2,750 
150 

00 
00 

2,900  00 
38,757  14 

TRANSPORTATION    DEPARTMENT. 
Pay  Roll  am'ts,  Cond'rs,  Eng\s,  Fire'n.  Brak'n, 
Salaries  of  Agents,  Clerks  and  Men  at  Stations,. 

15,073  00 

7,035  25 
3,998  00 
1,682  00 
9.305  00 
437  00 
1.326  00 

MACHINERY    DEPARTMENT. 
Pay  Roll  Shops,  and  salary  of  M.  of  Machinery, 

13,067 

5,481 

426 

212 

59 

91 
00 

00 

19,187  50 
27,134  95 

ROAD   DEPARTMENT. 
Pay   Roll  Section  Masters,  Men.  and  Salary  of  M- 

5.683  50 

10,850  50 

10,185  45 

415,  00 

Hand  hire  ain't,  on  Sections  and  Gravel  Trains,... 

$87,979,  08 
5.500  00 

Of  above  Cost,there  is  chargeable  to  "extraordinary 

4,000 
1,500 

00 
00 

Total  Receipts  of  Road, $200,524  07 

Total  Expense  Account   87,979  09 

Balance  on  Receipts, $112,544  98 

27 


ABSTRACT 


Showing  Receipts  and  Cost — total  in  Transportation  from  the  beginning 
of  business  on  the  Road  to  date  ; — i.  e.from  Septt.  1854,  to  Jan.  1859. 


YEAR. 

am't.  of 
road  receipts. 

am't.  op 
operat'g  cost. 

am't.  of 
nett  profits. 

am't.  of 
per  cent  cost. 

1855 

July,   1 

$61,984  60 

$48,678  07 

$13,306 

53 

78  per  cent. 

1856  i 

July,   1 

230,301^26 

108,209  29 

122,091 

97 

46  "   " 

1857 

July,   1 

300,449  63 

137,525  00 

162,924 

63 

43  "   " 

1858 

July,   1 

337,003  02 

151,790  96 

185,212 

06 

43  "   " 

1859 

Jaiiy  1 

200,524  07 

87,979  08 

112,544 

98 

44  «   " 

TOTALS, 

,$1,130,262  58 

596,080  15 

534,182 

40 

Note. — The  first  year  above  was  before  completion,  and  the  heavy  cost  was 
for  transportation  on  construction  ac't. 


COMPARATIVE    STATEMENT 


Of  Receipts  from  all  sources,  from  July  1,  '55  to  Jan.  1,  59. 


1856. 
1857. 
1858. 
1859. 
For  6  months. 

PASSENGERS. 

FREIGHTS. 

MAIL. 

TOTAL. 

$  90,109  39 

132,766  77 

144,105  87 

85,454  36 

$120,299  88 
145,382  86 
170,607  15 
103,919  67 

$19,891  99 
22,300  00 
22,300  00 
11,150  00 

$230,301  26 
300,449  63 
337,003  02 
200,524  03 

Total. 

452,436  39 

540,209  56 

75,641  99 

1,068,287  94 

|    E 

28 

A 

STATEMENT 

Of  Length  of  Bridges  on  the  North  Carolina  Rail  Road. 

o 

Names  of  Stream. 

S5 

"o4  2 

Section  of 
Road. 

Description  of  Bridge. 

^ 

s 

^Dj 

^ 

1 

Rocky  River, 

117 

1 

100 

No.2,W.D. 

Wood.   Track  runs  through. 

2 

Coddle  Creek,  -  - 

136 

1 

115 

"  2,     « 

'             < 

I                i; 

3 

Irish  Buffalo, 

67 

1 

57 

a    %      a 

'     over. 

2 

Yadkin  River,  -  - 

658 

4 

150 

a    %      a 

£                 If 

5  South  Potts, 

60 

1 

50 

"    5,      " 

t               U 

6  North  Potts, 

54 

1 

40 

"  5,     « 

i               U 

V 

Swearing  Creek, 

70 

1 

60 

"  5,     " 

i           II 

8 

Leonard's  Creek, 

123 

1 

106 

':  6,     " 

(           a 

9 

Abbott's  Creek,  - 

223 

2 

100 

'■'  6,     " 

'     through. 

10 

Rich  Fork, 

124 

1 

110 

"  6,     " 

c           a 

11 

Jimmies'  Creek,- 

54 

1 

39 

«  6,     « 

I            cc 

12 

Deep  River, 

117 

1 

100 

a   7       « 

t           a 

13 

South  Buffalo,  -- 

40 

1 

30 

"  8,     " 

1     over. 

14 

North  Buffalo,-  - 

130 

1 

118 

"  9,     " 

'     through. 

15 

Haw  River, 

260 

2 

100 

"  9,  E.  D. 

'     over. 

16 

Back  Creek, 

115 

1 

104 

<<  9,     " 

17 

Upper  Eno, 

112 

1 

100 

<•'  8,     " 

18  Lower  Eno, 

112 

1 

100 

"  8,     " 

19 

Stony  Creek, 

54 

1 

40 

"  7,     " 

20 

Crabtree. 

56 

1 

42 

"  5,     " 

21 

Walnut  Creek,-  - 

64 

1 

50 

1  4,     « 

22  Reuse  River,-'-- 

264 

2 

100 

«  2j     « 

'     through 

23  j  Little  River, 

130 

1 

115 

K     J         II 

i           a 

24  Salisbury, 

56 

1 

48 

"  4,  W.D. 

Street  crossing. 

25 'Charlotte, 

56 

1 

48 

t<  1;     .. 

a             it 

29 

STATEMENT  OF  BUILDINGS   ON  THE 

N.   C.  RAIL   ROAD. 

Description  of  Houses. 

K  Div. 

W.Div. 

Go.  Shops- 

Warehouses, 

11 

13 

1 

Water  Stations, 

13 

13 

1 

Wood  Sheds, 

12 

12 

1 

Dwellings  for  Mechanics, 

00 

00 

18 

"          "  Section  Masters, 

9 

10 

00 

"          "        "      Hands, 

9 

10 

2 

"          "  Station       " 

11 

13 

00 

V          "  Bridge  Watch'n, 

2 

1 

00 

Out  Buildings, 

9 

10 

20 

Engine  Sheds, 

1 

1 

1 

Car 

2 

2 

2 

Joint  Passenger  Sheds, 

1 

2 

00 

Principal  Dwellings, 

00 

00 

4 

80 

87 

57 

Bridges  on  large  streams, 

5 

2 

"        "  small         " 

4 

9 

Turn  Tables  (3  large— 3  small) 

3 

3 

STATEMENT   OF  R 

OLLING 

STOCK. 

larolina 

Statement  of  Rolling  Stock  on  t 

he  W.   ( 

Rail  Road 

— embracing  all  description 

i  of  Can 

's,  Jan.  J 

,  1859. 

Passenger  Coaches,  1st  < 

3!clSS,        • 

14 

"        2d 

a 

3 

Mail  Cars, 

.     5 

Box  Cars, 

. 

, 

121 

Flat    "      . 

92 

Gravel  Cars, 

30 

Crank  and  Section  Cars 

, 

19 

Hand                           " 

5 

Pole                            " 

• 

• 

13 

Total  number, 

• 

• 

304 

1 

30 


INVENTORY    OF    MATERIALS    ON    HAND. 

January,  1st,  1859. 


MACHINERY  AND   TRANSPORTATION   DEPARTMENT. 

10,500  lbs.  new  wrought  Iron, 
Old  Steel, 
Pig  Iron, 
1200  lbs.  Brass  Castings, 

300  lbs.  Old  Copper, 
Smith  and  Foundry  Coal, 
Sheet  Tin, 

4  Set  Tyres  for  Engines, 
Old  Wheels  and  Scrap  Iron, 
New  Wheels, 

"  Castings  for  Engines  and  Cars, 
4  New  Drives  and  Tyres, 
Forging  for  New  Engine  Trucks, 
13  Box  Car  Frames,  new,  ) 

2  Second  Class  Cars,  "     > 

5  Flat  ';       "     ) 

2  Stoves  made  in  Shop, 
Paints,  Varnish,  total  stock  and  tools, 
Old  and  New  Axles, 
Lumber  on  hand  in  shop  and  out, 
Oil  and  Glass, 

ROAD  DEPARTMENT. 

21 6£  Tons  of  New  Kails, 

101       "       "  Old  Eails  used  and  thrown  out, 

Crossties  on  hand, 

Spikes  and  Chairs, 

Wood, 

Provisions, 

Clothing, 


42000 

300,00 

116  00 

48000 

34:00 

280,00 

150J00 

1,72200 

2,139.97 

67500 

400'00 

700  00 

300J00 

3,50000 

90;  00 

2,300  00 
600  00 
60000 
650|00 


$15,476  97 

$12,990  00 

4,040  00 

10,800  00 

280  00 

20,367(00 

S00|00 

200,'00 

$49,477  00 


$64,953  97 


31 


AS  TO  PAYMENT  ON  THE  PREFERRED  STOCK. 

Note  A.  For  two  years  past  the  Representative  of  the  State  in  the  An- 
nual Meeting's  of  stockholders,  has  demanded  payment  of  the  interest  on  the 
million  last  subscribed  by  the  State  to  the  capital  stock,  and  standing  as  pre- 
ferred stock. 

He  has  claimed  this  on  the  ground — that  as  a  surplus  above  the  cost  of 
operating  the  Road  was  shown  each  year  to  remain  from  the  gross  earnings, 
the  Board  were  obliged  to  declare  from  this  amount,  a  six  per  cent,  dividend 
to  the  State.  The  original  charter  says — Sec.  35 — "That  the  profits  of  the 
Companjr,  or  so  much  thereof  as  the  general^Board  may  deem  advisable,  shall, 
when  the  affairs  of  the  Company  will  permit,  be  semi-annually  divided  among 
the  stockholders,  in  proportion  to  the  stock  each  may  own." 

The  act  for  subscribing  the  million  saj^s — "  That  the  stock  thus  directed  to 
be  subscribed,  shall  be  a  preferred  stock,  and  the  State  shall  be  entitled  to  six 
per  cent.,  out  of  any  dividends  of  profit  made  by  said  Company,  before  any 
dividends  shall  be  paid  on  any  other  stock  in  the  same." 

It  would  seem  from  the  section  of  the  charter  first  recited — that  it  was 
intended  to  give  discretion  to  the  Board,  not  only  as  to  the  amount  they 
"  may  deem  advisable,"  but  also  that  they  are  restricted  by  the  condition  of 
the  Company  to — "when  the  affairs  of  the  Company  will  permit" — in  declar- 
ing dividends. 

Is  there  any  thing  in  the  next  recited  clause  of  the  last  act  to  over-ride  this 
first  section — "  that  the  State  shall  be  entitled  to  six  per  cent,  out  of  any  div- 
idends of  profit  made  by  said  Company,  before  any  dividends  shall  be  paid  on 
any  other  stock." — That  is  to  say — whenever  this  Company  is  in  condition  to 
make  dividends — then  the  State  shall  receive  her  six  per  cent,  on  the  million 
before  any  per  cent,  is  paid  to  the  stockholders. 

So  it  seemed  to  most  of  us — but,  waiving  the  question  of  law — was  it  the 
best  policy  for  the  State — a  three-fourths  owner  in  this  Road,  to  take  of  the 
nett  earnings  her  six  per  cent.,  and  leave  the  Road  unfinished  and  its  debts 
unpaid — or  in  other  words — to  borroiv  money  for  the  dividend  on  the  prefer- 
red stock.  Since  it  makes  not  much  difference  in  the  end,  whether  you  call 
it  borrowing  money  to  pay  the  debts,  or  to  pay  the  dividend.     The  amount 


32 

will  be  the  same — the  liability  the  same — the  Eoad  equally,  in  either  case, 
burdened — the  State  about  equally  benefited. 

The  Board  of  Directors  have  thought,  that  the  State  would,  like  the  stock- 
holders, have  her  interest  in  this  work  best  promoted,  by  clearing  it  at  once, 
and  first,  of  all  floating  debt,  so  that  whatever  nett  profit  was  made  above 
expenses,  might  be  essentially  a  clear  profit  to  all  concerned.  The  State  has 
the  power,  and  she  can  now  declare  her  will  in  the  matter. 

AS  TO  THE  FUTURE  PEOSPECTS  OF  THE  ROAD. 

Note  B.,  The  Tables  and  figures  contained  in  this  Report  show  that  each 
year  there  has  been  a  fair  surplus  of  clear  profits  over  expenses,  and  if  the 
Road  had  started  quite  free  of  debt,  would  have  paid  in  1856,  six  per  cent,  to 
the  preferred  million,  and  two  per  cent,  to  the  three  million  besides; — in  1857, 
six  per  cent,  to  the  preferred  stock,  and  over  three,  to  the  remainder  of  three 
millions — in  1858,  six  per  Cent,  to  the  preferred  stock,  and  over  four  to  the 
remaining  three  millions;  in  1859,  a  semi-annual  dividend  of  nearly  three  per 
cent,  on  the  whole  capital  stock  of  four  millions. 

The  financial  Statement  will  show  that  we  are  now  free  from  debt,  and 
some  estimate  may  be  safely  made  of  future  receipts ; — as  these  have  steadily 
increased  every  year,  so  far.  under  the  disadvantages  of  most  unusually  bad 
seasons,  and  a  period  of  disastrous  panic. 

According  to  our  last  receipts  (for  six  months,)  in  July  next,  the  Road  may 
pay  the  six  per  cent,  on  the  million  of  preferred  stock,  and  make  a  small  divi- 
dend besides  to  the  remaining  three  millions  of  capital :  and  it  cannot  be  a 
matter  of  question  at  all,  that  hereafter,  her  payments  of  dividends  will  be 
regular  and  unfailing,  as  her  receipts  of  nett  profits  have  been  from  the  first 
year  of  the  work.  The  opening  up  of  the  Western  North  Carolina  Road  to 
the  rich  valley  of  the  Catawba,  will  bring  down  a  tribute  never  before  direct- 
ed East — and,  in  a  marked  degree,  increase  the  revenue  of  this  Road  by 
Freights  in  and  out,  as  well  as  by  travel  of  our  own  people. 

No  instance  can  be  pointed  out  of  a  Road  in  better  condition,  and  having 
better  promise  of  a  prosperous  future  within  four  years  of  completion,  than 
the  North  Carolina  Rail  Road  now  has,  and  if  the  State  and  the  Stockholders 
find  nothing  to  approve  in  this,  it  would  only  show  that  still,  as  in  the  time 
past,  differing  from  our  neighbors,  we  yet,  as  a  people,  undervalue  whatever 
is  at  home. 


STATEMENT— -Showing  the  Receipts  and  Disbursements  of  the  North  Carolina  R.  Road  from  its  Organization 
and  its  financial  conddion  at  the  end  of  the  month  of  December  1858. 


RECEIPTS. 

Capital  Stock  subscribed  for  by  the  State, 
Preferred  Stock  subscribed  for  by  the  State, 
Capital  Stock  subscribed  for  by  individuals. 
Deduct  amount  unpaid, 


Expended  for  Gradii 


DISBURSEMENTS. 


I, 1,000  00 

1,000,000  on 
27,665  25 


Loan  Comp  'y  Coup.  Bunds bea 
March  and  September, 

Accrued  increased  interest  01 
Premium  on  sales. 


5pr.  ct.  int.  payable 


13,000,000  00 


$3,972,334  ' 


350,000  00 

2.400  on 
137  50 


Engineering, 

Masonry, 

Bridges, 

Depot  and  Stations, 

Right  of  Way, 

Sills, 

Iron  including  chairs  and  spikes, 

Lime  and  Cement, 

Superstructure,  laving  Track,  etc., 

Real  Estate, 


Amount  rec'il  i 


;en'l  int.  ac'f,  Coup.  State  Bonds,  &e.,  22,548  38 
"  Sales  State  Bonds,  4,391  70 

"  Rent  Account,  1,205  20 

ROAD  EARNINGS. 

i  commencement  Sept.  1854  to  .Tulv  1,  1855. 

"  July  185.-.  to, Tulv  '1st.  1850, 

Julv  1850,  foJul'v  1st,  1857, 

Ju.lv  1S57  to  Julv  1st,  1S58, 


F'or  Passengers,  July  1,  1S5S  to  31s 
For  Freight  '    •• 

For  Mails  " 


De 


1S5S, 


"  Construction,  (paid  McRae,  &c.,) 

"           "  Personal  Property,  1 

"           "  Shops,  124 

"  Buildings,  65 

"  Engines,  210 

"          "  Cars,  all  classes,  215 

"  Salaries,  69, 

"  Office  Expenses,  Printing,  &c,  6, 

"           "  Mileage,  Directors,  &c,  7, 

"  Wood,  S5i 

"          "  Loss  and  Damage,  7 

"  Stock  killed,  1, 

"          "  Miscellaneous,  17 

"  "  Expenses  of  selling  Stock, 

"          "  Repairs  Road,  1S9. 

"          "  Repairs  Engines,  28! 

"          "  Repairs  Cars,  44; 

"           "  Station  Expenses,  3, 

"  Materials,  Coal  Iron  and  Lumber,  11, 

"  "  Supplies,  Oil,  Cotton  Waste,  Paints,  &c,   18. 

"  "  Transportation, 

"  "  Medical  account  since  1st  Jnly,  1857, 

"           "  Discount  on  sale  State  Bonds,  5, 

"          "  Int.  on  Loan  8350,000,  S  pr.  ct.  bonds,  42, 

"           "  "     on  general  Account,  35. 

"  N.C.  R.  R.  Co.fr't  Ac'tCr.  of  road  rec'pts,   8. 
25  State  Bonds  deposited  in  Sinking  Fund,  8  per  ct.  loan,  25, 


43  State  Bonds  deposited  as  collateral, 
23      "         "       on  hand, 
Bills  receivable,  running  to  maturity, 
Interest  on  do., 


0,961  65 
1,610  S4 
8,790  51 
1,890  11 
4,177  44 
11.092  7S 
464  40 
730  21 
,671  29 
191,736  l'1 
203  74 
649  Ml 
5114  5S 


1,391 


29.: 


426 


,£ 9S   3,989 

,S15  00 
,5S5  58 
,212  34 
,219  13 
211  05 
07s  S9 
600  16 
961  54 
033  27 
108  45 
145  09 
4SS  21 
470  13 
897  85 
092  58 
,S86  15 

845  53 
3S5  00 
000  00 
,318  99 
,941  56 

000  00 


,499  30 
400  5S 


i.r.so  01 

1.034  00 


:,549  52 
1,941  55 


1  lue  IV 


Agents. 


LIABILITIES. 


payable  running  to  maturity, 
'est  on  do. 

1  Bonds,  due  and  payable  in  1801, 
to  Contractors;  payable  part  in  1861 
to  Agents,  (salaries,) 
to  Officers  on  do. 
to  other  Roads, 


35,189  23 

330  30 

10.51 10  00 

12,367  00 

7.M15  s:: 


Due  to  individuals  1 
1  back  Pav  K 


Ac 


eon  l> 


,oan,  43  State  Bou 

on  hand  hire,  for  1S58, 

"  prior  to  L858, 

rest  on  8  per  cent.  Loan, 
idance  Resources, 


M.740  12 
16,697  00 

5,461  42 

pledged  as  collatT  40,000  00 

26,378  16 

5,360  00 

9,333  33 


$177,043  39 
41.205  30 


§218,249  75 


Due  from  other  Roads, 
Due  from  individuals  on  open  account, 
Due    "  "  on  unpaid  Stock, 

Due  from  Post  Office  Department, 
Cash  in  hands  of  Treasurer, 


1S58.     Dec.  31.     Resources  bn 


>,205,090  45 

43,000  00 

23,000  00 

2,642  74 

285  36 

30,210  81 

24,412  53 

13,316  85 

27,665  25 

5,575  00 

47,935  21 

218,249  75 

1 

5,483,340  20 

Surplus  on  hand, 


$41,205  36 


33 


AJST  ACT 

For  the  Completion  of  the  North  Carolina  Hail  Boad. 


Section  1.  Be  it  enacted  by  the  General  Assembly  of  the  State  of  North 
Carolina,  and  it  is  hereby  enacted  by  the  authority  of  the  same,  That  the  Pub- 
lic Treasurer  is  authorized  and  instructed  to  subscribe,  in  behalf  of  the  State, 
for  ten  thousand  additional  shares  of  capital  stock  in  the  North  Carolina  Rail 
Road  Company,  and  that  he  make  payment  for  said  stock  by  issuing  and 
making  sale  of  the  Bonds  of  the  State,  under  the  same  provisions,  regulations 
and  restrictions  prescribed  for  the  sale  of  the  bonds  heretofore  issued  and  sold 
to  pay  the  State's  original  subscription  in  the  stock  of  said  Company,  and  the 
same  pledges  and  securitities  are  hereby  given  for  the  faithful  payment  and 
redemption  of  the  certificates  of  debt  now  authorized,  that  were  given  for 
those  issued  under  the  same  act.  Provided,  nevertheless,  That  the  whole 
amount  of  principal  money  of  such  bonds  or  certificates  of  debt  shall  not  ex- 
ceed the  sum  of  one  million  of  dollars. 

Sec.  2.  Be  it  further  enacted,  That  the  stock  thus  directed  to  be  subscribed, 
and  paid  for,  in  behalf  of  the  State,  shall  be  preferred  stock  in  the  North  Car- 
olina Rail  Road  Company,  and  the  State  shall  be  entitled  to  six  per  cent,  per 
annum,  payable  semi-annually  thereon,  out  of  any  dividends  of  profits  made 
by  said  Company,  before  any  dividends  shall  be  paid  on  any  other  stock  in 
the  same,  and  that  the  stockholders  of  said  Company,  in  general  meeting  as- 
sembled, shall  give  their  assent  to  the  provisions  of  this  act,  and  that  the  Pre- 
sident of  said  Company  shall  make  a  certificate  of  said  assent,  under  the  seal 
of  the  said  Company,  to  be  approved  by  the  Governor  of  the  State,  and  filed 
in  the  office  of  the  Public  Treasurer  before  the  subscription  shall  be  made  as 
directed  in  the  first  section  of  this  act:  Provided,  That  the  said  stock  of  one 
million  shall  continue  to  be  preferred  stock,  entitled  as  aforesaid,  only  so  long 
as,  and  during  the  time,  that  it  is  held  by  the  State,  but  upon  being  sold  and 
transferred  by  the  State,  shall  thenceforth  cease  to  be  entitled  to  dividends  of 


34 

preference  as  aforesaid :  Provided,  further,  That  said  stock  may  be  transfer- 
red to  any  other  work  of  Internal  Improvements  by  a  future  Legislature. 

Sec.  3.  Be  it  further  enacted,  That  the  affairs  of  the  said  Company  shall  be 
managed  and  directed  by  a  general  board  to  consist  of  twelve  directors,  eight 
on  the  part  of  the  State,  and  four  on  the  part  of  individual  stockholders,  to  be 
elected  and  appointed,  as  heretofore  provided  in  the  original  act  of  incor- 
poration of  said  Company,  at  the  General  annual  meetings  of  Stockholders  of 
said  Company,  and  that  no  person  shall  be  competent  to  act  as  a  director  in 
said  Company  who  is  not  a  stockholder  to  the  amount  of  five  shares  of  stock. 

Sec.  4.  Be  it  further  enacted,  That  at  all  General  meetings  of  the  stock- 
holders the  State  shall  be  represented  by  an  agent  or  proxy  appointed  by  the 
Governor,  and  such  agent  or  proxy  shall  not  be  entitled  in  the  general  meet- 
ings aforesaid,  to  vote  in  the  election  of  the  directors  to  be  elected  on  the  part 
individuals. 

Sec  5.  Be  it  further  enacted,  That  all  real  estate  held  by  said  Company  for 
right  of  way,  for  station  places  of  whatever  kind,  and  for  workshop  location, 
shall  be  exempt  from  taxation  until  the  dividends  of  profits  of  said  Company 
shall  exceed  six  per  centum  per  annum. 

Sec.  6.  Be  it  further  enacted,  That  the  sum  of  fifteen  thousand  dollars,  to 
be  raised  by  the  State  in  the  same  manner  as  other  moneys  are  raised  by  the 
provisions  of  this  act,  be,  and  the  same  is  hereby  appropriated  for  the  purpose 
of  cleaning  out,  and  improving  the  navigation  of  Tar  river,  between  the  town 
of  Washington  and  the  fall  of  said  river ;  and  that  his  Excellency  the  Gov- 
ernor is  hereby  empowered  and  required  to  appoint  suitable  commissioners  to 
carry  into  effect  the  requirements  of  this  section. 

Sec.  7.  Be  it  further  enacted,  That  this  act  shall  take  effect  and  be  in  force 
from  its  ratification. 


35 


MEN  ON  THE  ROAD  AND  IN  SHOPS. 

July  1,  1858. 

Total  number  of  Men  employed  in  Transportation,  Repairs 
of  Road  and  Shops,  for  the  year  ending  this  date  : 


On  Passenger  Trains,  regular, 

On  Freight  Trains, 

On  Lumber  Trains, 

On  Gravel  Trains, 

At  Stations, 

On  Sections, 

At  Shops, 

Station  Agents  and  Clerks, . . 

Section  Masters, 

Engineers, - 

Conductors, - 

Bridge  Watchmen, 

"Watchmen  at  Stations, 

Firemen, 

Total  number, 


WHITES 


12 


15 


39 

26 

20 

20 

9 

4 

3 

3 


124 


139 


FREE 
BLACKS 


159 


SLAVES 


27 

43 

140 


222 


20 


21 


41 


263 


TOTAL 


9 

4 

6 

27 

55 

141 


242 


61 

21 

20 

20 

9 

4 

3 

30 


173 


415 


36 

LIST  OF  STOCKHOLDERS. 

Allbright,  W.  R. 

1 

Bason,  Jeremiah 

1 

Allen,  Solomon 

1 

Barrier,  David 

5 

Allbright,  J.  R. 

1 

Blackwelder,  W. 

5 

Anderson,  A.  G. 

2 

Bingham,  L.  S. 

2 

Alexander,  C.  A. 

20 

Barringer,  Rufus 

18 

Alexander,  Alpheus 

10 

Banghn,  James  K. 

1 

Alexander,  L. 

3 

Bradford,  John 

3 

Allison,  R.  W. 

5 

Barrier,  Edward 

1 

Atwell,  Joseph 

5 

Black,  E.  C. 

1 

Atwell,  W.  B. 

1 

Brown,  Alfred 

5 

Alexander,  Daniel 

22 

Barringer,  A.  C. 

1 

Adderton,  Jeremiah 

45 

Black,  J.  M. 

1 

Adams,  EL 

16 

Earnhardt,  George 

10 

Andrews,  J.  1ST. 

2 

Barrier,  Daniel 

5 

Alexander,  George 

2 

Barrier,  Moses 

5 

Allbright,  George 

2 

Barrier,  Matthias 

5 

Askew,  W.  F. 

1 

Earnhardt,  J.  C. 

5 

Avery,  W.  W. 

40 

Blackwelder,  J.  A. 

5 

Allison,  J. 

5 

Brown,  Haley 

56 

Ashe,  R.  J. 

110 

Belo,  E. 

38 

Alston,  0.  F. 

1 

Bran  nock,  Henry 

5 

Adams,  Lyon 

1 

Beall,  R.  L. 

10 

Austin,  E.  D. 

29 

Bradshaw,  J.  A. 

5 

Boyden,  Nathaniel 

20 

Banner,  C.  L. 

10 

Brown,  W,  II- 

5 

Beard,  David 

2 

Bason,  J.  R. 

1 

Bevill,  Archibald, 

5 

Boone,  L.  S. 

2 

Boren,  A.  P. 

3 

Benson,  William 

1 

Bowman,  G.  W. 

2 

Bradford,  James 

3 

Blalock,  John 

1 

Earnhardt,  M.  A. 

2 

Bri train,  W.  H. 

5 

Burns,  E.  B. 

14 

Bowman,  W.  F. 

2 

Barringer,  D.  M. 

5 

Brewer,  Thomas 

2 

Earnhardt,  G.  M. 

1 

Bowman,  William 

2 

37 

Bane,  John 

5 

Coleman,  J  B, 

* 
1 

Brown,  Allen 

1 

Coleman  &  Gibson, 

10 

Blackwell,  K. 

1 

Caldwell,  William 

2 

Burwell,  R. 

5 

Cochran,  R.  M. 

15 

Borland,  Archibald 

2 

Cochran,  R.  E. 

10 

Bingham,  W.  J. 

30 

Cook,  R.  C. 

1 

Brittain,  R.  0. 

20 

Cook  &  Moose, 

5 

Bragg,  John 

5 

Clouse,  William 

10 

Bragg,  W. 

2 

Clouse,  Joseph 

10 

Blair,  R.  E. 

6 

Carter,  A.  G. 

20 

Brown,  Rich  wine, 

6 

Carter,  John 

25 

Brown,  P.  M. 

5* 

Clarke,  Jesse 

2 

Beard,  Horace  H. 

5 

Cole,  J.  L. 

20 

Boy  den,  John  A. 

1 

Coffin,  Elihu 

13 

Bnis,  Alexander  W. 

5 

Cobb,  John 

1 

Brown,  Jeremiah  M. 

5 

Clymer,  G.  M. 

■  2 

Bean,  Wylie 

3 

Cummins,  W.  M. 

3 

Baker,  Archibald 

2 

Clarke,  D. 

1 

Burris,  Joseph  T. 

20 

Clapp,  D.  F. 

1 

Brown,  Michael 

133 

Cosby,  John 

1 

Barringer,  David 

27 

Clapp,  Jacob, 

1 

Burke,  T.  A. 

2 

Cummins,  E.  F. 

3 

Bellamy,  J.  D. 

5 

Cunningham,  J.  M. 

10 

Boylan,  William 

50 

Caldwell,  David  F. 

18 

Bryan,  J.  H. 

10 

Caldwell,  R.  C. 

5 

Beck  with,  Ira 

1 

Caldwell,  A.  C. 

3 

Briggs,  J.  J. 

1 

Cook,  T.  E. 

1 

Branch,  L.  O'B. 

1 

Caldwell,  Cyrus  K. 

2 

Burt,  P.  B. 

1 

Clark.  J.  R. 

1 

Bost,  M.  L. 

5 

Carlton,  J.  D. 

1 

Baker,  D.  B. 

1 

Clark,  J.  K 

1 

Barringer,  M.  L. 

5 

Culbreth,  J.  E. 

1 

Barringer,  V.  C. 

12 

Corling,  Charles 

2 

Barringer,  William 

20 

Cairns,  J.  G. 

2 

Brown,  John  D. 

4 

Correll,  Jacob 

15 

Blackwell,  John 

16 

Chambers,  P.  B. 

65 

Busbee,  Quenten 

4 

Coffin,  John  M. 

80 

Battle,  K.  P. 

5 

Cowan,  Mrs,  Sarah, 

5 

Bost,  A.  M. 

3 

Cassiday,  James 

1 

Chadwick,  S.  W. 

5 

Crocker,  A.  J. 

1 

Cuthbert,  Emmet 

5 

Cameron,  M.  C. 

17 

Charlotte  &  S.  C.  R.R. 

Co.  55 

Cameron,  Paul  C. 

38 

Clendennin,  Benj. 

1 

Cook,  William  D. 

2 

Carrigan,  W.  A. 

40 

Cosby,  D. 

79 

Crawford,  Henderson 

1 

Callier,  G.  W. 

7 

/ 

o 
O 

8 

Caldwell,  J.  H. 

105 

Dobbin,  K  M. 

2 

Colburn,  E. 

9 

Dickinson,  P.  K. 

50 

Cline,  Tobias 

5 

Dawson,  J.  &  Co. 

5 

Conrad,  J.  W. 

5 

Dickinson,  A.  C. 

1 

Cannon,  Ibzon 

6 

Dortch,  W.  T. 

20 

Cannon,  John  C. 

5 

Dewey,  C.  F. 

1 

Cannon,  James 

1 

Devereux,  T.  P. 

5 

Caldwell,  W.  A. 

6 

Docld,  James 

1 

Caldwell,  E.  K 

6 

Dewey,  Charles 

2 

Cairns,  George  A. 

2 

Dodcl,  O.  L. 

40 

Dickson,  H.  W. 

1 

Elkin,  Willis 

1 

Dickson,  John 

1 

Evans,  P.  G. 

5 

Dusenbeny,  II.  R. 

30 

Eddinger,  John 

30 

Douthitt,  B.  C. 

10 

Eccles,  Henry 

5 

Douthitt,  Stephen 

15 

Ellis,  Robert 

7 

Davis,  Winslow 

1 

Erwin,  Jabin 

1 

Donnell,  W.  &  T.  B. 

2 

Eckel,  A.  P. 

2 

Donnell,  Edmund 

2 

Elliott,  Aaron 

1 

Donnell,  H. 

1 

Elliott,  Frederick 

10 

Denny,  Eli 

5 

Erwin,  Wyatt 

1 

Denny,  John 

5 

Enniss,  J.  H. 

6 

Donnell,  Robert 

3 

Ecles,  H.  B. 

1 

Donnell,  Emsley 

3 

Everett,  John 

5 

'  Donnell,  George 

2 

Everett,  John  Guard. 

60 

Donnell,  Samuel 

3 

Evans,  J.  W. 

2 

Dick,  R  P. 

12 

Edmonson,  W.  B. 

6 

Davis,  James 

3 

Erwin,  J.  J. 

40 

Donnell,  J.  M. 

5 

Fonville,  F.  H. 

1 

Dick,  J.  M. 

30 

Freeland,  George 

1 

Dixon,  0.  M.  &  W.  R. 

1 

Faucette,  John 

1 

Dillon,  II. 

2 

Fallen,  J.  K. 

2 

Dodson,  J.  T. 

1 

Fink,  John 

21 

Dwiggins,  Samuel 

10 

Foil,  Moses 

5 

Davidson,  G.  F. 

68 

Fisher,  John 

1 

Davidson,  William 

5 

Fries,  Francis 

114 

Deaton,  James 

5 

Fries,  Henry 

10 

Darham,  Alvis 

1 

Field,  J.  W. 

45 

Dunkin,  William 

1 

Fogleman,  Peter 

1 

Donuan,  Davis 

3 

Foust,  Daniel, 

o 
O 

Donnan,  John 

3 

Foulkes,  Mrs.  J.  A. 

3 

Dibble,  Bros.  &  W.  II. 

Foust,  Martha  Ann 

1 

Washington, 

41 

Freeland,  J.  J. 

6 

Durkin,  W.  0. 

1 

Fentress,  T.  II. 

1 

Davis,  D.  A. 

20 

Falls,  Edwin 

10 

Davis,  M. 

3 

Felter,  Manuel 

4 

39 

Fleming,  A  J. 

2 

Gillespie,  Otho 

15 

Foard,  0.  G. 

66 

Gully,  J.  J. 

5 

Foard,  J.  F. 

34 

Gully,  Ransom 

1 

Fraley,  B.  F. 

5 

Gaither,  Ephraim 

13 

Fisher,  C.  F. 

143 

Greene,  George 

8 

Fisher,  J.  A. 

1 

Grice,  G.  W. 

5 

Foy,  J.  M. 

1 

Green,  R.  S. 

11 

French,  G.  R. 

3 

Greenlee,  E.  E. 

5 

Flemming,  J.  L. 

1 

Hughes,  J.  W. 

5 

Freeman,  E.  B. 

3 

Hardin,  D.  C. 

5 

Ferrall,  Pat. 

1 

Hughes,  A.  G. 

1 

Frazier,  J.  D. 

2 

Hurdle,  George 

2 

Faucette,  G.  A. 

5 

Hardin,  John 

5 

Faucette,  J.  R. 

5 

Hazell,  Bennett 

14 

Foulkes,  J.  J. 

2 

Hurdle,  Josiah 

1 

Gant,  Jesse 

1 

Hurdle,  Benjamin 

16 

Graham,  James 

1 

Hoffman,  John 

1 

Guthrie,  George 

1 

Holt,  E.  M. 

56 

Gunn,  John 

1 

Holmes,  William 

1 

Graves,  Calvin 

10 

Holt,  Edwin 

1 

Gibson,  E.  R. 

45 

Holt,  Jerry 

1 

Glass,  Jacob 

1 

Holt,  Peter 

1 

Greene,  John 

1 

Hardin,  P.  R. 

1 

Gilmer,  J.  F. 

1 

Holt,  Jacob 

5 

Goodman,  Daniel 

10 

Holt,  John 

5 

Gilmer,  J.  A. 

81 

Hardin,  J. 

1 

Gilmer,  W.  S. 

1 

Harris,  K.  P. 

5 

Gibson,  James 

36 

Harris,  S.  C. 

17 

Garrett,  F.  A. 

20 

Harris,  Solomon 

5 

Glenn,  R.  W. 

5 

Harris,  W.  S. 

5 

Gilmer,  James  W. 

6 

Harris,  O.  J. 

5 

Gray,  William 

1 

Harris,  W.  G. 

5 

Graham  &  Dunn, 

1 

Harris,  C.  W. 

10 

Gillespie,  A.  M. 

10 

Hodgen,  J.  M. 

1 

Gillespie,  J.  W.  B. 

1 

Haines,  A.  M. 

1 

Gardner,  G. 

4 

Hudson,  Willie 

1 

Gray,  Robert 

1 

Holt,  W.  R. 

20 

Gorrell,  Ralph 

20 

Hargrave,  Samuel 

20 

Glnis,  John 

3 

Hargave,  Alfred 

20 

Gillespie,  J.  F. 

10 

Hargrave,  J.  H. 

10 

Guess,  W.  W. 

1 

Hunt,  Andrew 

14 

Graves,  Ralph 

1 

Hunt  &  Adderton 

18 

'  Graham,  W.  F. 

40 

Floover,  Charles 

9 

Goldson,  Thomas 

2 

Hoover,  Yalentine 

14 

Gheen,  G.  H. 

1 

Hart,  Henry 

5 

40 

Hen d rick,  John 

10 

Harding,  E.  L. 

8 

Hidrick,  B.  S. 

3 

Haywood;  R.  B. 

1 

Harris,  T.  D. 

2 

Holmes,  M.  L. 

6 

Hendrick,  J.  A. 

3 

Harris,  Richard 

10 

Hoover,  W.  K. 

5 

Hogg,  T.  D. 

10 

Hendrick,  Jake 

1 

Hawkins,  P.  B. 

92 

Hepler,  David 

10 

Hutchins,  C.  W.  D. 

2 

Hairston,  P.  W. 

5 

Hallimon,  W.  H. 

2 

Harris,  Jonathan 

2 

Husted,  H.  W. 

2 

Hiatt,  Wilson 

2 

Haywood,  F.  J. 

10 

Hiatt,  David 

1 

Hinton,  L. 

2 

Hannar,  Samuel  &  Co. 

5 

Hutchins,  John 

3 

Houston,  Levi 

2 

Hill,  W.  G. 

2 

Hamnr,  Robert 

1 

Hall,  E. 

9 

Hatnck,  Samuel 

3 

Holden,  W.  W. 

3 

Hoskins,  S.  M. 

1 

Henderson,  Jos. 

1 

Hill,  John 

3 

Haynes,  T.  W. 

20 

Hunt,  John 

5 

Hunter,  J.  T. 

9 

Henclrix,  George 

1 

Hall,  Willis 

5 

Henclrix,  J.  L. 

1 

Harrison,  J.  R. 

9 

Hackett,  J.  C. 

1 

Haywood,  E.  G. 

17 

Houston,  J.  H. 

10 

Harris,  Richard 

20 

Holt,  Willis 

1 

Harris,  R.  W. 

10 

Holt,  John 

1 

Harris  E.  K. 

26 

Hunt,  E.  A. 

2 

Hamilton,  R.  A. 

12 

Hughes,  S.  W. 

1 

High,  W.  H 

1 

Heartt,  Dennis 

2 

Haynes,  W.  H. 

2 

Hartt,  David 

1 

Ho'yle,  E.  W. 

5 

Hargrave,  Jesse 

14 

Ipock,  Arthur 

5 

Harrison,  B.  P. 

1 

Johnson,  Wm. 

1 

Hall,  Bait  &  Branch 

2 

Johnson,  James 

1 

Henderson,  Archibald 

44 

Irwin,  C.  II. 

5 

Horah,  J.  M. 

2 

Jones,  Aquilla, 

6 

Heathman,  William 

5 

Jem i son,  James 

10 

Henderson,  A.  M. 

2 

Justis,  Alexander 

5 

Heathman,  David 

15 

Ingram,  ^Neadham 

1 

Hall,  E.  W. 

2 

Isahour,  Daniel 

5 

Harris,  George 

3 

Johnson,  C.  W. 

40 

Hart,  Levi 

5 

Jones,  Cad.  Sr. 

40 

Hall,  E.  P. 

5 

Jones,  Pride 

30 

Hill,  Frederick  J. 

50 

Jackson,  George 

2 

Hinton,  Charles  &  Co. 

38 

Jones,  G.  B.  &  Co. 

1 

Hi n ton,  C.  L. 

4 

Jones,  Ben. 

5 

Haywood,  G.  W. 

4 

Jenkins  &  Roberts, 

40 

Hill,  F.  C. 

7 

1 

James,  J.  E. 

10 

41 


Jones,  W.  H. 
Jones,  Wesley 
Jones,  Kirnbrough. 
Jones,  J.  B. 
Jenkins,  Thomas 
Jones,  W.  D. 
Johnson,  C.  E. 
Jones,  P.  E.  A. 
Jerkins,  J.  H.; 
Jenkins,  A.  T. 
Jarvis,  M.  W. 
Kerr,  D.  W. 
Kerr,  Samuel 
Krimminger,  L.  B. 
Kinnions,  Samuel' 
Kluttze,  George  &  Levi 
Kerr,  S.  M. 
Kirk  man,  J.  "W. 
Kirkland,  John  U. 
Kerr,!  Samuel 
Kahn wilier,  Solomon 
Kahn wilier,  Daniel 
Kalmwiller,  David 
Kidder,  Ed. 
Kelly,  E.  V. 
Kenneday,  J.  T. 
Kenneday,  Thomas 
Kenneday,  John 
Kenneday,  J.  E. 
Kaine,  John 
King,  R.  R. 
King,  Elam, 
King,  Elam,  (Guardian) 
King,  Jane  A. 
Kelly,  Charles 
Long,  J.  C. 
Lindle}^,  A.  H. 
Leaser,  J.  M. 
Lowrey,  L.  J. 
Long,  J.  M. 
Litaker,  Daniel 
Lietaker,  George 
Long,  J.  A. 
Lindsey,  A. 
Latham,  F.  P. 


1 

Lainbeth,  James 

2 

5 

Lambeth,  Sheel 

10 

10 

Lambeth,  J.  H. 

12 

5 

Lambeth,  D.  T. 

12 

1 

Lambeth,  J.  M. 

9 

2 

Lambeth,  Alice 

1 

5 

Ledbetter,  Henry 

5 

30 

Logan,  J.  E.  &  Isabella 

3 

78 

Lindsay,  R.  G. 

10 

71 

Lindsay,  Jed.  H. 

10 

1G 

Lindsay,  Jesse  H. 

17 

5 

Leonard,  C.  H. 

1 

5 

Leonard,  Jonathan 

1 

2 

Lamb,  C.  &  J. 

1 

1 

Lamb,  Anderson 

1 

5 

Lamb,  G.  B. 

2 

2 

Latimer,  C.  1ST. 

5 

3 

Latta,  J.  C. 

1 

10 

Lundsford,  James 

2 

SO 

Lynch,  Tom 

1 

1 

Leslie,  Robert 

7 

1 

Leach,  M.  W. 

5 

1 

Laws  &  Turrentine 

5 

5 

Long,  O.  F. 

10 

1 

Leach,  L.  M. 

1 

6 

Lord,  J.  B. 

106 

1 

Lippett,  J.  J. 

1 

50 

Loring,  Thomas 

3 

1 

Lane,  W.  K. 

5 

2 

Leniay,  T.  J. 

5 

3 

Lovejoy,  J.  M. 

1 

o 
O 

Little,  George 

2 

3 

Linn,  J.  A. 

1 

7 

Lambeth,'Li.  D. 

10 

5 

Lash,  I.  G. 

33 

2 

Maimey,  Ephraim 

10 

2 

Mauney,  Valentine 

10 

1 

McCnlly,  Josiah 

1 

1 

Moose,  John 

10 

1 

Moose,  Daniel 

1 

5 

Moose,  M.  C. 

1 

5 

McAdams,  James 

1 

10 

Moose,  E.  S. 

1 

5 

Martin,  P.  F. 

1 

5 

Moose,  J.  E. 

1 

42 


McCully,  Eobert 

1    1 

Moose,  C.  A. 

1    i 

Mebane,  Giles 

48    | 

Moss,  John 

5 

Morrison,  W.  P. 

10 

Montgomery,  D.  A. 

11     ! 

McEachern,  J.  E. 

4    1 

McMiny,  J.  B. 

5 

Means,  W.  C. 

20 

Morehead,  John  L. 

3 

Mclvinlv,  Sandy 

8 

Miller,  J.  W. 

5 

Miller,  Daniel 

5 

Morrison,  J.  E. 

2 

Miller,  J.  H. 

o 
O 

Morris,  P.  M. 

1 

McRae,  A.  C. 

3 

McCauly,  Hugh 

20 

McDonald,  John 

1 

Mabry,  J.  P. 

22 

Murphy,  John 

1 

Maffit,'D.  Y. 

34 

Moss,  A.  A. 

3 

McRorie,  John 

23 

Martin,  J.  F. 

20 

Mendenhall,  E.  E. 

1 

Mendenhall,  M.  H. 

2 

McKenzie,  C.  EL 

1 

Mendenhall,  J.  J. 

1 

McRary,  S.  W. 

45 

McKee,  ^Y.  L. 

3 

McLean,  F.  B. 

1 

McCnllock,  J.  D. 

1 

Mendenhall,  Cyrus  P. 

lot 

Mendenhall,  l^ereus 

5 

Mitchell,  Joe 

1 

McGee,  Samuel 

1 

Moderwell,  M. 

10 

McLean,  J.  P. 

5 

Mebane,  J.  A. 

1 

I  McLean,  J.  &  C. 

5 

1  McLean,  T.  G. 

2 

|   ^IcLean,  John  M. 

1 

1  McLean,  Joel 

30 

McLean  &  Co. 

5 

Morehead,  John  M. 

88 

McKnight,  David 

5 

Minor,  James 

1 

McLean,  J.  C. 

5 

McMinny,  J.  W. 

2 

Millis,  J.  W. 

2 

Mebane,  D.  C. 

11 

Mitchell,  J.  M. 

1 

Mebane,  Win.  M. 

1 

Menhendall,  W.  P. 

4 

McConnell,  W.  J. 

56 

McAdoo,  C.  X. 

4 

M elver,  I. 

3 

Mendenhall,  R.  I. 

1 

McMinny,  John 

1 

McCurly,  William 

1 

Mendenhall,  G.  C. 

5 

McXeely,  John,  dee'd 

5 

Mcllvane,  A.  rG. 

15 

Moore,  Stephen 

5 

Major,  Francis 

1 

Miclde,  M.  J. 

2 

Milliken,  E. 

1 

Murphy,  "William 

43 

Myers,  Myer 

IS 

Myers,  E. 

8 

McCorkle,  J.  F. 

71 

Murdoch,  William 

140 

McRee,  A.  C. 

1 

Mears,  J.  L. 

2 

Mears,  Gaston 

1 

McPae,  Alexander, 

1 

Martin,  A. 

1 

McPae,  Jno.  C.  &  Co. 

8S5 

Mordecai,  G.  W. 

80 

Mordecai,  Jacob 

30 

Moore,  B.  F. 

30 

McPae,  D. 

1 

Morris,  J. 

9 

McGee,  W.  II. 

1 

Mariott,  J.  T. 

1 

McKnight,  AVm. 

7 

McKenzie,  M.  S. 

21 

McKimmon,  Jas. 

10 

Marlin,  Jas. 

1 

4 

3 

Misenheimer,  Jas. 

10 

Phillips,  Charles 

5 

Melchor,  Christoplier 

10 

Phillips,  S.  F. 

5 

Moore,  W.  P. 

5 

Peebles,  Lem. 

3 

Newlin,  Jno.  &  Son 

10 

Paul,  Samuel 

1 

Newlin,  Jas. 

3 

Plummer  &  Brnner, 

5 

Nicholson,  W.  F. 

5 

Partee,  C.  L. 

2° 

Neal,  Elam 

1 

Parsley,  0.  G. 

50 

Newman,  Jos. 

1 

Pool,  W.  E. 

10 

Norwood,  G. 

2 

Porter,  Henry 

2 

Nixson,  Nich 

5 

Peck,  L.  W. 

1 

Nutt,  II. 

2 

Primrose,  Jno. 

5 

Nelson,  C.  J. 

1 

Palmer,  J.  C. 

1 

Newson,  J.  D. 

2 

Purify,  J.  L. 

1 

Norn's,  J.  P. 

5 

Peace,  ¥m. 

10 

Nixon,  Jerry 

5 

Pharr,  Samuel 

5 

Nesbit,  A.  M. 

56 

Query,  E.  A.  E. 

5 

Ocliler,  J.  C. 

1 

Eay,  D.  L. 

5 

Osborne,  J.  ~W. 

10 

Eendleman,  J.  B. 

1 

Oo-bnrn,  E.  "W. 

5 

Eoney,  B.  F. 

2 

O'Eork,  Jno. 

5 

Eeid,  Joel 

10 

Pickett,  Jerry 

1 

Eumple,  Peter 

1 

Propts,  Henry 

5 

Eussell,  W.  G. 

2 

Patterson,  G. 

1 

Eussell,  Jno. 

1 

Patten,  J.  E. 

80 

Eogers,  Jno. 

1 

Pinter,  G.  S. 

20 

Eankin,  Jesse 

10 

Pharr,  J.  0. 

10 

Eiley,  George 

5 

Phifer,  C. 

23 

Eankin,  Eoberts 

6 

Price,  C.  N. 

5 

Eankin,  Adam 

5 

Phifer  &  York 

10 

Eankin  &  McLean 

30 

Plunkett,  M.  M. 

5 

Eankin,  Albert 

1 

Pitts,  Moses 

2 

Eagle,  Albert, 

3 

Payne,  C.  L. 

20 

Eoberts,  W.  W. 

1 

Pinkston,  M. 

5 

Eice,  Thomas 

10 

Pickett,  Jeremiah 

5 

Eeid,  Eufus,  Dec'd. 

10 

Parker,  J.  N. 

1 

Eiley,  James 

1 

Prather,  P.  E. 

1 

Eay,  F.  B. 

1 

Phipps,  R.  S. 

2 

Eowlett,  Jno. 

1 

Peeclen,  Jno. 

1 

Eoberts,  B.  B. 

21 

Perry,  Ebb. 

1 

Eobutson,  F.  H. 

1 

Pritchard,  ~Wm. 

1 

Eeeves,  Francis 

5 

Pankey,  J.  B. 

5 

Euffin,  P.  B. 

5 

Pratt,  W.  N. 

3 

Eamsay,  J.  G. 

3 

Parker,  Abner 

2 

Eobins,  Alex. 

10 

Parish,  D.  C. 

5 

Buss,  J.  P.  II. 

5 

Phillips,  James 

5 

Eice,  Jno. 

1 

44 

Roseborough,  R.  M. 

15 

Sellens,  B.  A. 

1 

fioseborough  &  Gillespie 

1 

Stewart,  R.  S. 

1 

Rankin,  R.  G. 

2 

Smith,  J.  C. 

1 

Roulhack,  J.  B.  G. 

10 

Shaw,  F. 

1 

Rand,  K".  G. 

2 

Shaw,  R,  P. 

1 

Royster,  M.  B. 

1 

Shaw,  "W.  S. 

1 

Rogers,  S.  H. 

1 

Stafford,  J.  P. 

5 

Rankin,  W.  W. 

16 

Stratford,  H.  B. 

2 

Reek,  Jno. 

30 

Stanly,  Joshua 

2 

Rominger,  E.  C. 

5 

Shelton  Samuel 

2 

Shoffner,  Mike 

5 

Stanly,  K  E. 

1 

Sellen,  Const. 

1 

Stafford,  Z.  J. 

1 

Scott,  Jno. 

2 

Stanly,  Edward  R. 

16 

Sellen,  Thos. 

20 

Simonton,  H.  R. 

10 

Smith,  Jno. 

1 

Samror,  John 

5 

Stafford,  Jno. 

3 

Strayhorn,  J.  N". 

1 

Simpson,  J.  R. 

1 

Strayhorn,  John 

1 

Stafford,  Geo. 

3 

Strudwick,  Edward 

70 

Scott,  Henderson 

5 

Swain,  D.  L. 

50 

Smith,"G.  A. 

1 

Spencer,  P.  C. 

2 

Sheborne,  Margaret 

5 

Star  wait,  John 

3 

Stiwalt,  J. 

10 

Shaver,  John  I. 

3 

Stiwalt,  J.  Jr. 

5 

Shaver  &  Simonton, 

314 

Stiller  Henry 

3 

Settle,  Thomas 

10 

Sasserman,  J.  C. 

5 

Strange,  Robert 

1 

Scott,  J.  W. 

1 

Saunders,  Ashley 

15 

Smithdeal,  A.  A. 

1 

Smith,  Richard. 

100 

Sumers,  Jos. 

1 

Snow,  T.  H. 

1 

Sumers,  Yal. 

1 

Smedes,  Ablert 

5 

Sbomp,  Amanda 

2 

Sewell,  Richard 

1 

Sbober,  Cbas.  E. 

40 

Shelbv,  P.  H. 

1 

Stanly,  Win. 

20 

Smith,  E. 

5 

Shelly,  Jesse 

47 

Stone,  Sarah  A. 

5 

Starlnok,  Cbas. 

2 

Saunders,  R.  M. 

20 

Stewart,  A. 

1 

Stephenson,  S. 

1   ! 

Stewart,  J.  A. 

2 

Sasser,  L.  D. 

20 

Summers,  L.  W. 

5 

Sumner,  Thomas  J. 

35 

Stephens,  Levi 

1 

So.  Car.  Railroad  Co 

50 

Smith,  Eli 

5 

Syme,  J.  W. 

1 

Sloan,  Jas. 

6 

Shimpoch,  John 

5 

Sloan,  R.  M. 

5 

State  of  ]ST.  Carolina, 

300,000 

Sloan,  Jno. 

5 

Turner,  William 

1 

Stewart,  D.  C. 

1 

Trollinger,  John 

20 

Swaim  &  Sherwood, 

2 

Trollinger,  W.  H. 

1 

Smith,  M.  D. 

1 

Turrentine,  J.  S. 

5 

V 

45 

Trollinger,  J.  C. 

1 

Watkins,  S. 

1 

Trollinger,  James 

1 

White,  C.  K 

30 

Trollinger,  Benjamin 

23 

White,  A.  W. 

1 

Thompson,  Patterson 

1 

White,  J.  W. 

1 

Turner,  Wilford 

18 

White,  H.  P. 

1 

Tliompson,  J.  K. 

1 

White,  A.  E. 

1 

Thompson,  James 

1 

White,  C.  L. 

5 

Townsend,  K.  P. 

4 

White,  li.  J. 

1 

Townsend,  H.  P.  Guard. 

3 

Winecoff,  J. 

5 

Tomlinson,  Eno 

7 

White,  P.  P. 

1 

Thomas,  William 

5 

Winecoff,  M. 

5 

Trotter  W. 

1 

White,  Y.  D. 

1 

Thomas,  L.  L. 

10 

Waggoner,  D.  W. 

8 

Thompson,  J.  H. 

5 

White,  A.  M. 

1 

Thomas,  Jesse 

|1 

White,  J.  P. 

5 

Thomas,  J.  W. 

75 

White,  C.  C. 

1 

Thorn,  J.  W. 

1 

Weddington,  W.  A. 

3 

Thorn,  J.  K. 

5 

Wilson,  Isaac 

21 

Taylor,  F.  B. 

9 

Widenhouse,  M. 

5 

Th acker,  Isaac 

20 

White,  A.  P. 

1 

Thompson,  Thomas 

1 

Winecoff,  K. 

1 

Thompson,  W.  H. 

1 

Wharton,  A.  C. 

7 

Tinnan,  C.  C. 

2 

Watts,  W.  F. 

[5 

Tinnan,  David 

5 

Williamson,  .Francis 

5 

Turner,  Josiah 

40 

Wilson,  J.  J. 

5 

Turrentine,  J.  C. 

25 

Wheeler,  M.  M. 

11 

Tate,  S.  K. 

2 

Welch,  Jonathan 

7 

Trott,  S.  S. 

1 

Welsh,  W.  H.  &  J. 

5 

Turner,  Samuel 

2 

Wattson,  J.  S. 

1 

Taylor,  J.  A. 

5 

Wharton,  Jno. 

5 

Turner,  H.  D. 

15 

Wiley,  Shuman 

2 

Tucker,  W.  H.  &  E.  S. 

59 

Wharton,  J.  C. 

2 

Turner,  Thomas 

5 

Weir,  D.  P. 

42 

Thompson,  Irwin 

10 

Wharton,  Eavans 

6 

Tull,  J.  G. 

10 

Wilson,  Andrew 

5 

Upchurch,  Bartlett 

1 

Wilson,  David 

4 

Upchurch,  W.  C. 

1 

Wilson,  William 

1 

Vanbocklin,  A.  H. 

2 

Wharton,  Elisha 

1 

Walker,  Andrew 

2 

Westbrooks,  S.  W. 

1 

Walker,  J.  H. 

1 

Winburn,  W.  A. 

14 

Walker,  B.  B. 

1 

Wilson,  Arch. 

4 

White,  S.  A. 

1 

Wheeler,  Nathan 

1 

Watson,  E.  F. 

2 

Wharton,  David 

7 

White,  S.  M. 

1 

Wharton,  W.  W. 

6 

Williamson,  J.  E. 

10 

Worth,  J.  A. 

1 

46 


Whitt,  David 
Woodbin,  A.  C. 
Weatherly,  J.  A. 
"Watson,  Jno. 
Wilkinson,  Jno. 
Webb,  Thos. 
Wilson,  J.  B. 
Wilson,  Alex.  Sr. 
Wilson,  Alex.  Jr. 
Webb,  Jas.  Sr. 
Webb,  Jas.  Jr. 
Ward,  Win. 
Webb,  J.  H. 
White,  L. 
Withers,  T. 
Wilkins,  Ed. 
Whitford,  J.  D. 
Wallace,  Thos. 
White,  Andrew 
White,  J.  D. 
Wood,  D.  B. 
Wood,  W.  A. 
Wood,  T.  S. 
Wood.  J.  H. 


1 
1 
1 
1 
9 
1 
5 
1 
1 

10 
1 

10 
2 
5 
6 

13 
5 
2 
1 
1 
1 
1 
1 


Williams,  1ST.  L.  4  • 

Wright,  W.  A.  5 

Wright,  Thos.  10 

Worth,  T.  C.  3 

Washington,  Rich'd  29 

Watson,  J.  H.  B.  49 

Wilson,  S.  W.  5 

Williams,  A.  3 

Williams,  J.  K.  1 

White,  J.  B.  1 

Womble,  Jordan-  2 

Woodal,  A.  P.  1 

Williams,  H.  2 

Washington,  J.  !N\  5 

Willis,  Alexander  5 

Whitford,  D.  E.  5 

Whitford,  Bryan  5 

Young,  R.  S.  5 

York,  A.  J.  5 

Yong,  J.  C.  1 

Yokely,  Sam.  9 

Young,  T.  M.  5 

Young,  M.  D.  2 

Zackary,  Wm.  1 


STATEMENT  OF  ENGINES  ON  THE  NORTH  CAROLINA  RAIT  ROAR, 

Their  Cost — Description — Mileage — -from  first  July,  1856,  to  first  January,  1859,  inclusive. 


Name!  of  Engine/    By  whom  limit. 


I  I  1  /„..,.< 
I.-.  .l,»Ho. 
Ill   Ui./.i>. 


./        j  Length 
\CylinderM  stroke. 


|       ,SV/,/.  1854. 

1       Set.    1354 

Sjjil.  1654. 

Dee.    1854. 

II.  K.  /j-  Co. 

Oel.     1850. 

11   Worn*  ,|-  Son 

Mw.    1856. 

.1/ir     1857. 

R.  1.  IV. 

.Wny.  1857. 

Mm*  .1-  S» 

July,  1855. 

9,0011 
!l  .11011 
11.01111 


ttches  34  incics  H, 


Link. 
Hook. 


29,550 
29,516 
28,550 
26,044 
29,(196 
25,500 
7,840 
12,046 
8,374 
5,348 
3,220 
1 5.840 
15,328 
23,046 
24.088 
2,100 


4,4:i9 
2,1-12 
1 ,623 


1 ,5113 
1     1.351 

2,913ii 

4,424| 

i     1.5K4 

1,857 

511,0411 


23.536 
311,3311 
17,057 
22.5411 
26.378 
25.1188 
31,166 
30.4(15 


17,280 
1 1 ,952 
14,922 
12,390 
12.7112 
11,096 

9,443 
13.699 

9.304 
10,(133 


3.957 
2,854 
14,983 
6,373 
1,663 
1.846 
0,905: 
0.874 
1 ,054 
1.159 
0.7911 
(1,052 


1 1 .900 
12,346 
1 6,524 
17,599 
12.528 
8,395 
9,950 
11.608 
12.852 
1 5,326 
13,585 
8,783 


3,401 
0.-148 
0.5011 


651140 
72,201 
62,131 
66,183 
68,002 
511,583 
48.956 
54.959 


1,748 
3,595 
5.347 


Kr l,„ilt.      I :,„:,!  ,„■,/,,-. 


0,812 

50,011 

1,109 

0,437 

46,367 

0,729 

0,485 

41,893 

1.471 

Fnight. 

0.314 

35,330 

3,6115 

0,731 

46,394 

1,446 

2,528 

45,158 

1.910 

1,155 

21,092 

5,896 

9,153 

14,342 

7,87(1 

7.391 

14,753 

8,0811 

2,121 

5,870 

18.235 
20,350 

3,5011 
2,382 

Freight. 

1,646 

21,698 

2,960 

7,507 

4.210 

Gravel 

l,x  Shop  for  Repairs. 

0,779 

10,657 

11,0117 

(•'not!  order. 

939,718 

2.788 

'•'■'"A"'  <■•"» 

per  mile  for  all  Enginee. 

Photomount 
Pamphlet 

Binder 
Gaylord  Bros. 

Mafeww  v 
Syracuse, »-  *■ 


UNIVERSITY  OF  N.C.  AT  CHAPEL  HILL 


| 00042071943 


FOR  USE  ONLY  IN 
THE  NORTH  CAROLINA  COLLECTION 


